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    <title>Income tax impact on returning NRI</title>
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    <description>NRE deposit interest is exempt only while the individual remains a Person Resident Outside India under FEMA and the deposits conform to the RBI NRE Deposit Scheme; FEMA residential status depends on the intention to stay rather than day counts (except specific returning resident tests), and once FEMA status changes to Resident the bank must redesignate NRE accounts and interest becomes taxable from that date.</description>
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      <description>NRE deposit interest is exempt only while the individual remains a Person Resident Outside India under FEMA and the deposits conform to the RBI NRE Deposit Scheme; FEMA residential status depends on the intention to stay rather than day counts (except specific returning resident tests), and once FEMA status changes to Resident the bank must redesignate NRE accounts and interest becomes taxable from that date.</description>
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