Sir,I was an NRI for 15 years and returned back India in 2022 permanently and convereted all my NRE ,NRO savings and FD accounts to Resident accounts and NRE mutual funds account to Resident account immediately after returning. Now I have got an opportunity of a job for 10 months contract. Do I need to change again all the accounts to NRO accounts before leaving India for 10 month period?

Hello Sir I am an NRI and I still have an old SB account in India. I have not changed it to NRO or NRI account. I have a Demat account and investments in demat throgh this SB account. And I am still investing in shares through this demat a/c. Now is it better to change the account to NRI account and also update the demat account or can I continue as it is till I shift back to India?. I am not sure if it is that simple. What are the implications please explain.

hello Sir! good day. I was an NRI for 14 years in Singapore and still continue to work for the organization in Singapore and draw my sal in Singapore in my account in Singapore . I hold NRE FDs /FCNR deposits/ NRI SB /NRO account . I returned to India due to some personal issues and my organization allowed to work from home . I still hold Employment pass in Singapore . I am still undecided about returning to Singapore which my company is okay with this idea. I am at the moment in cross roads . My question is I have been filing my income tax every year and for AY 2024-25 I filed RNOR status as i was not away from India for not more than 180days . My question is 1. Do I have to change all my NRE and FCNR deposit which i hold in a nationalised bank to RFC account and convert my NRE and NRO account to residency . I am not clear at the moment about staying back in India but can go back to Singapore still qualifying for the 180days rule. 2. Do i have to clsoe my account in Singapore and bring the proceed to India?. 3.Whom should I intimate about my account status. To the bank where i hold deposit ? thanks

Hi Sir, From 2022 to Jul'2024 , i was working abroad in one of the African location. I recently moved back to India in August 2024 . During my stint outside, I have opened an NRI account which was shared with my employer so that they can transfer my additional savings in the same . My bankers are telling me that i need to convert my NRI account to resident account as i have no intention to travel abroad again. This should be done with 180 days ie within February . I am yet to receive my final settlement , expected by Jun'25 . I am positive about it . My query to you is : 1. What is the process of requesting to bank or RBI for extention of this account ( being treated as NRI ) for another six months ? 2. Is there any other compliances I need to be wary of wrt FEMA and IT , given if the money is transfer to my regular resident bank account ( since I will be RNOR now ), i apprehend it will be treated as taxable income despite it relating to my work done during my tenue outside .