Is FCNR interest taxable?
Interest earned on an FCNR deposit is generally tax-free in India for NRIs, and no TDS is applicable.
We recommend speaking to a tax advisor for guidance specific to your situation, as tax treatment in your country of residence may differ.
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Instarem is a payment service provider. The information in this Help Centre is for general guidance only and does not constitute financial, investment or tax advice. Please consult your bank and appropriate professional advisers before making financial decisions.
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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