Income tax
My doubt is about non residents and individuals working in USA having working visa, having income in india as well . I would like to get clarification on treatment of income for the purpose of IT return filing with respect of income from income earned in USA and income earned in india by way of interest and income from renting of immobile property. more
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INCOME EARNED FROM INVESTMENS IN INDIA IS TAXABLE IN INDIA WHILE INCOME EARNED IN USA IS EXEMPT FROM TAX IN INDIA. more
Jul 17
You have to file your tax return in India for the income earned in India only while you have to file your income tax return in USA as well for your global income as per US laws. The tax paid any in India on your Indian income can be claimed in your tax return in US. It is better you check tax laws in US which is more important since if you hide any income outside US in your US return, USA have effective means to check your global income and if found undeclared, there are heavy penalties. This information is as per my daughter and son in law who are working in US and have Indian income also. more
Jul 17
Income earned in India, is taxable, try to have insurance ,vikas patra, postal income scheme, government scheme which is fully exempted from income tax. more
Jul 16
First check that the person meets the criteria of being Non Resident Indian (NRI) for the financial year for which return is to be filed. If NRI then file a return in ITR2 for income generated in India. The income received in USA will be taxed there. more
Jul 16
