tag:blogger.com,1999:blog-1072534379447599771.post9091208271368276648..comments2024-03-22T18:51:07.375+08:00Comments on Anand's Blog: Income Tax Liabilities for Non-Resident IndiasAnand Vijayakumarhttp://www.blogger.com/profile/04069290912727901147noreply@blogger.comBlogger24125tag:blogger.com,1999:blog-1072534379447599771.post-10193772422825932082017-09-09T14:55:43.403+08:002017-09-09T14:55:43.403+08:001. Yes - Mandatory
2. Income earned India (Ex: Int...1. Yes - Mandatory<br />2. Income earned India (Ex: Interest or profits from shares) is taxable per Indian tax laws. Amount sent to an NRE Acc is tax free as long as the amount was tax paid/earned in a country which has double tax avoidance agreement with India (USA has so don't worry)<br />3. If its an NR Savings acc (NRE or NRO) interest is taxable. You are not supposed to have a resident Anand Vijayakumarhttps://www.blogger.com/profile/04069290912727901147noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-42260288267508895722017-09-07T23:38:30.910+08:002017-09-07T23:38:30.910+08:00I am NRI, working in USA since 2013. I have some q...I am NRI, working in USA since 2013. I have some questions about NRO/NRE Accounts..<br />1. Is taking NRO/NRE account mandatory?<br />2. Tax situation of NRO, NRE<br />3. What happens to existing FD linked with Savings Account<br />4. Can I buy/sell (using NRO/NRE Accounts)<br /> IPOs<br /> Stocks<br /> Mutual Funds<br /><br />thanks,<br />Ravi Ramadugu<br />ravi.ramadugu@gmail.comAnonymoushttps://www.blogger.com/profile/14443208706430540085noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-41916552469561422402017-02-12T20:17:17.795+08:002017-02-12T20:17:17.795+08:00Dear Anand,
Thank you so much for your advice..Dear Anand,<br />Thank you so much for your advice..Anonymoushttps://www.blogger.com/profile/03868384767283036110noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-21794554595083233782017-02-12T18:08:14.527+08:002017-02-12T18:08:14.527+08:00Hi - I think what your auditor did is right. As Lo...Hi - I think what your auditor did is right. As Long as you have sufficient documentation from your employer that should be enough. Make sure there are no pending or overdue Taxes.Anand Vijayakumarhttps://www.blogger.com/profile/04069290912727901147noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-16776084575790834742017-02-11T23:11:26.593+08:002017-02-11T23:11:26.593+08:00This comment has been removed by the author.Anonymoushttps://www.blogger.com/profile/03868384767283036110noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-72566768641081085882016-12-31T12:48:26.962+08:002016-12-31T12:48:26.962+08:00This income into your NRE account will be treated ...This income into your NRE account will be treated as income earned in india and this along with your other incomes like bank interest or rental income etc should be combined and you need to pay tax on this to the indian government. Of course, not all the income is taxable, you get some tax benefits which if you are unsure you can buy my book on indian income tax to understand better. See here:Anand Vijayakumarhttps://www.blogger.com/profile/04069290912727901147noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-36412076328644291712016-12-30T12:53:59.084+08:002016-12-30T12:53:59.084+08:00Hi , I am an NRI on a dependent visa in the Middle...Hi , I am an NRI on a dependent visa in the Middle East. I have got the opportunity to work from home for a US based company as an Independent contractor. My hourly basis income will be remitted to my Indian NRE account. What are the taxes applicable on this income? Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-19234086214753544552016-10-08T20:28:09.046+08:002016-10-08T20:28:09.046+08:00For the income in kuwait - No.
If you invest the ...For the income in kuwait - No. <br />If you invest the money in India and make profits you need to pay taxes on the profits to indiaAnand Vijayakumarhttps://www.blogger.com/profile/04069290912727901147noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-56522584459131323422016-10-04T04:31:38.308+08:002016-10-04T04:31:38.308+08:00Hi Anand
I have been working in Kuwait since Decem...Hi Anand<br />I have been working in Kuwait since December 2015. I got my salary deposited in kuwait bank account in march 2016. This amount was remitted to india in April 2016. I understand that india does have a DTA agreement with kuwait and also there are no taxes in kuwait. I have filed returns and paid taxes on all my indian income.<br />my question is do I need to pay taxes on my kuwait mhatrehttps://www.blogger.com/profile/15466553685109594643noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-2186862247792304992016-08-14T17:11:06.425+08:002016-08-14T17:11:06.425+08:00If you are paid in foreign currency and you pay ta...If you are paid in foreign currency and you pay tax to the country where you are earning the money, then the amount will not be taxable in IndiaAnand Vijayakumarhttps://www.blogger.com/profile/04069290912727901147noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-3767674753705796942016-08-11T23:40:28.625+08:002016-08-11T23:40:28.625+08:00Hi Anand,
I have different case. I was in abroad f...Hi Anand,<br />I have different case. I was in abroad for last 5 years and very soon i will return to India. My employer (in abroad) asked for remote work from India and agreed to it. Now do i need to pay taxes in India? Because i dont earn money here.<br /><br />Regards,NareshAnonymoushttps://www.blogger.com/profile/00265583292028163466noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-88499859474700997842016-07-30T08:39:56.285+08:002016-07-30T08:39:56.285+08:00For the money you transferred - No. For the intere...For the money you transferred - No. For the interest she earns from the FD - Yes she has to pay taxes. Anand Vijayakumarhttps://www.blogger.com/profile/04069290912727901147noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-85618909630088616942016-07-26T07:57:49.761+08:002016-07-26T07:57:49.761+08:00Hi, I transferred part of my savings earned in US ...Hi, I transferred part of my savings earned in US to my mother's savings account in India. She created FD accounts from this money I transferred on her name. Does she have to pay taxes on the money I have transferred and also on the FDs? Can you please clarify what is taxable and not?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-72781945947190935362016-04-23T11:06:12.223+08:002016-04-23T11:06:12.223+08:00You would have to pay taxes on the income earned i...You would have to pay taxes on the income earned in India between this periodAnand Vijayakumarhttps://www.blogger.com/profile/04069290912727901147noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-48120452471650108902016-04-20T15:22:44.538+08:002016-04-20T15:22:44.538+08:00Hi Anand, For your question from April 2015 to Jan...Hi Anand, For your question from April 2015 to Jan 2016, I was working in IndiaAnonymoushttps://www.blogger.com/profile/00175915377651031175noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-27516251716526416412016-03-23T15:30:37.543+08:002016-03-23T15:30:37.543+08:00Hitesh - If during the period April 1 until Aug 20...Hitesh - If during the period April 1 until Aug 2015 that you left, if you had an income in India then YES you need to file tax returns for the same.<br /><br />No, you dont have to pay taxes on the stipend (or even if you receive Salary) in the US. Income that is tax paid in the country where the NRI is working is not taxed in India. However, if the money is remitted and reaches your bank acc inAnand Vijayakumarhttps://www.blogger.com/profile/04069290912727901147noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-23218735932454890282016-03-21T14:26:36.411+08:002016-03-21T14:26:36.411+08:00Hi Anand,
I am an Indian student pursuing my Ph.D...Hi Anand,<br /><br />I am an Indian student pursuing my Ph.D. in the US. I left India to come to the US in August 2015. I am receiving a stipend here that covers my education and living expenses. I would like to know the following:<br /><br />1. Am I a resident or non-resident in India for filing tax returns? This is the first time that I have travelled out of India.<br /><br />2. Do I have to Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-22816796945961697812016-03-13T19:53:50.631+08:002016-03-13T19:53:50.631+08:00What about the time April 2015 till Jan 2016?What about the time April 2015 till Jan 2016?Anand Vijayakumarhttps://www.blogger.com/profile/04069290912727901147noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-71738344511167334372016-03-09T16:15:31.713+08:002016-03-09T16:15:31.713+08:00Hi Anand,
Please help me to understand the tax lia...Hi Anand,<br />Please help me to understand the tax liability in the situation given below.<br />Working in Germany from February till April end. India income is suspended and the PF is getting deposited from the income that is earned in germany. <br />While filing ITR for FY 2015-2016, do I need to pay tax?Anonymoushttps://www.blogger.com/profile/00175915377651031175noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-75564913393457942572016-02-12T19:26:35.234+08:002016-02-12T19:26:35.234+08:00You will have to pay taxes to the Indian governmen...You will have to pay taxes to the Indian government on the income generated in India through the FD's and trading in the stock marketAnand Vijayakumarhttps://www.blogger.com/profile/04069290912727901147noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-73832792185360738232016-02-11T02:52:18.070+08:002016-02-11T02:52:18.070+08:00Hi Anand,
I need to understand the tax liability ...Hi Anand,<br /><br />I need to understand the tax liability in my case.<br /><br />Working in Germany and paying taxes here.<br />Income in india is due to FD interest and short term gains in stock.deepeshgarg0007https://www.blogger.com/profile/17577687066923756223noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-28131588825974540712015-09-26T11:11:46.919+08:002015-09-26T11:11:46.919+08:00No, you dont need to pay taxes on foreign income a...No, you dont need to pay taxes on foreign income as long as you pay taxes there. India does not do double taxationAnand Vijayakumarhttps://www.blogger.com/profile/04069290912727901147noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-9535760726691141402015-09-25T17:02:24.537+08:002015-09-25T17:02:24.537+08:00Hi Anand - please help me with understanding the t...Hi Anand - please help me with understanding the tax liability in below situation :<br /><br />- Work in India till Dec 2015 and earn salary in Indian Bank A/c<br />- Move to US office starting 01 Jan 2016 and start earning salary in a bank a/c there<br /><br />Questions:<br /><br />1) When filing ITR for FY 2015-16 in Jul 2016 , do we need to pay tax on salary earned in foreign bank a/c ( fromAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-72765432672697696732012-06-13T14:52:15.227+08:002012-06-13T14:52:15.227+08:00Hello,
Income tax is a key source of funds that t...Hello,<br /><br />Income tax is a key source of funds that the government uses to fund its activities and serve the public. It is chargeable on all income arising in the State to individuals, partnerships and unincorporated bodies. Thanks a lot....fort worth cpahttp://gregoryssimpson.com/noreply@blogger.com