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Is FCNR interest taxable?
Interest earned on an FCNR deposit is tax-free in India for NRIs, and no TDS (Tax Deducted at Source) is applicable.
However, tax rules in your country of residence may still apply. Consider checking with a qualified tax adviser for guidance based on your circumstances.
Related FAQs
What is an FCNR deposit? Which currencies can be held in an FCNR deposit? Does Instarem offer FCNR deposits? What type of account can I send money to for an FCNR deposit? How do I open an FCNR deposit? How long does the transfer take?Didn’t find what you were looking for?
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