2 min read.Updated: 10 Jul 2018, 12:52 PM ISTSonu Iyer
Interest income from resident bank account and NRO bank account is taxable at the same slab rate
My father opened an FD account about 7 years ago when he was a resident Indian; the origin of money was India. Then, he moved to Qatar with me and is an NRI for more than 5 years now. His FD will mature in February 2019. Should he convert the FD to NRE status? Does he need to pay tax on it? Can these funds be repatriated to Qatar on maturity?