I have been working in the Middle east for the last 20 years continuously and except for short holidays not exceeding 30 days a year, I have never been to India. I retired from services in July 2019 and returned to India for good on August 1, 2019. - I have been working in the Middle east for the last 20 years continuously and except for short holidays not exceeding 30 days a year, I have never been to India. I retired from services in July 2019 and returned to India for good on August 1, 2019. - Ask the Expert - Fee Only Investment Advisers

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I have been working in the Middle east for the last 20 years continuously and except for short holidays not exceeding 30 days a year, I have never been to India. I retired from services in July 2019 and returned to India for good on August 1, 2019.

I had an NRE FD worth Rs. 50 lacs with SBI maturing in 4 years, when I returned to India in August 2019. Can I continue this  FD even after my return to India till maturity?

Yes. You can continue the Fixed Deposit till maturity but as a regular resident Fixed deposit and not NRE FD

Am I required to inform the bank ?

Yes you must inform the bank

When?

Immediately on return to India

I have some FCNR deposit of USD 100,000 maturing in 4 years. Can she continue this FCNR FD even after she returns to India till maturity?

Yes, you can continue the FCNR deposit till maturity

What will be the income tax implications of interest on the FCNR account?

As per section 10 (15)(iv)(fa) of the Income Tax Act, it will continue to be not taxable for FY 2019-20 and FY 2020-21 where you will be RNOR