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401k/Traditional IRA taxation in India
In this video, Abhinav is talking about 401k/Traditonal IRA taxation especially from the point of view of Returning NRI from US. Transcript of this video is given below. Please note that auto-generated transcription may contain errors. Hello. This is Abhinav, and I welcome you. In an earlier video, I discussed about, what is 401k, and…
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FIRE Strategy by US-based NRIs planning to Return to India – Tax/FEMA considerations
Hello, and welcome. This is Abhinav. And in this video, I’m covering some, tax considerations for people who are based in US, Indian expats based in US, and who, follow the fire strategy, financial independence retire early. So, basically, it’s a strategy where, a person wants to save and invest aggressively so that, he, you…
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Pre-Immigration Planning Tips for Indian residents moving to US
In this video, Abhinav is discussing some Pre-Immigration Planning Tips for Indian residents moving to US. Video transcript below (kindly note that auto-transcription can contain errors): Hello. This is CA Abhinav, and I welcome you. In this video, I’ll be discussing some points on how you can plan and reduce your US tax liability before…
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India-USA DTAA – An Overview
Though the tax residency rules of India & USA substantially differs from that of India, there is still a chance of resulting in certain incomes of that person taxable in both countries, or a case of dual residency whereby in the same year, the person qualifies as a tax resident of both USA and India.…
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USA Tax Compliances & Implications for surrender of US Citizenship/Green Card
In this post, I am discussing the USA Tax Implications & Compliances for surrender of US Citizenship/Green Card. This will be helpful for those Indians who return from USA and want to settle down permanently in India. Note – Content in this post contains an extract of main IRS tax guidance on this topic. For…
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Tax Guide for freelancers working remotely for US companies from India
After the pandemic lot of people in India took up freelance work for US companies in India, especially on freelance marketplaces like Upwork, Fiverr, Freelancer & others. In this post, I am discussing the tax obligations that the freelances should know to comply properly while working remotely for US companies in India & avoid heavy…
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How to obtain a Tax Residency Certificate in USA
Lot of times US based NRIs who have investments in India need to claim the benefits of Indi -USA DTAA in the form of reduced/nil rate of tax deducted at source by payers on their incomes in India (e.g. NRO bank deposits) or need to claim the credit of tax paid in USA in their…
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Understanding Traditional and Roth IRA in USA
Traditional & Roth IRA are amongst the most popular self-funded investment options in USA after the 401k which is an employer provided plan. I have already written earlier about 401K (Understanding 401K Plans) and today, I am sharing my knowledge and learning about broad features of Traditional and Roth IRA. Features of Traditional IRA Contribution…
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Form 15CA/CB compliances by NRI: Procedure and Issues
Form 15CA/CB compliances by NRI: Procedure and Issues Assume you are an NRI based out USA and you’ve sold property in India and after deduction of applicable TDS by the buyer, the proceeds are in your NRO account. Now, you want to transfer the amount back in USA. As per Indian Income Tax Act, any…
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How NRI can save tax on interest income from fixed deposits in India
Recently, I received a query from Ramesh (name changed), an Indian citizen shortly moving to UK for a long term assignment. He has till now invested some good amount fixed deposits in India from which he is earning regular interest income of say Rs. 5 lacs every year. Now, his query was First steps while…