I am No More NRI Now, What About My NRE Fixed Deposits ?

I am no more NRI now, what about my existing fixed deposits with the banks in India, and as per rule I need to close NRE account. Do I need to pay income tax on payout of maturity amount. 

Also Know – For what purpose NRI Home Loan can be availed?

Answers :

1. The proceed of the Fixed Deposit amount can be deposited in a regular savings bank account or a resident foreign currency account if there is a need for foreign currency in future. Once you are no longer an NRI, you are required to intimate your bank and convert your NR accounts to domestic accounts.
2. Since the amount is earned outside India while being a non resident, there should not be any tax implication but maintain the records of the earning for future.
3. The amount can be used to purchase property or personal use as you have now become a resident.