In April 2016, I had just opened NRE account and deposited Rs. 4 lacs, when I was non-resident. I became resident in Nov. 2016, then bank converted my NRE account into resident FD and made my principle amount 410000( principle plus interest of Rs. 10000). My question is whether the interest earned on NRE FD and merged with the principal amount is taxable ?
Jan. 10, 2018