Category: USA NRI
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Planning a move to US? Check these Tax pointers/tips
If you are contemplating to move to the US on work or for personal reasons, please remember US taxes its citizens and residents on worldwide income. Also, US views pooled foreign investments negatively and treats them as passive investment companies (PFIC) and subject them punitively from a tax perspective. So, if you are a non-US…
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Should I withdraw my 401K/IRA on return to India?
What to do with your 401K/IRA after return to India is an important decision for many returning NRI families given that if you’ve stayed out of India for long, this forms a good chunk of the overall investment corpus. However, answer to this question is not that simple & needs to be carefully evaluated in…
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Taxation of 401K/IRA (USA) in India
Most of the returning NRIs from USA who have spent considerable time abroad have a good chunk of the total investment corpus invested in 401K plans and hence have a question on taxation of their 401K/IRA investments in India. 401K/ IRA taxation in India is a complicated area and considering the applicable penalties on foreign…