Category: Tax
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Gift City Investments by US returnees – US/India Tax & FEMA implications
Last updated – December 31, 2025 US NRIs who are non-citizens non-domiciliary of US and plan to return to India and have significant investments back in the US and don’t want to move everything to India in INR suffer from the risk of estate tax on their US investments – basically their US-situs investments >…
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Tax Provisions in the One Big Beautiful Bill Act, 2025: A Guide for US-based NRIs
Introduction On July 4, 2025, Congress enacted the One Big Beautiful Bill Act (OBBBA), representing the most comprehensive individual tax overhaul since the 2017 Tax Cuts and Jobs Act. While many headlines focused on corporate and energy incentives, OBBBA also cements key tax rates, preserves popular deductions, and introduces an array of new benefits—both permanent and time‑limited.…
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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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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
Last Updated – October 11, 2025 Lot of times US based NRIs who have investments in India need to claim the benefits of India -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…
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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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Passive Foreign Investment Company (PFIC) Regulations in US & Tax Implications for Indian expats
Last updated on – Nov 7, 2024 US has a draconian tax provision for Passive Foreign Investment Corporation (PFIC) which makes it unwise for a US person (Citizen/GC/Resident) to invest in any non-US pooled investments. Lot of non-US persons who are unaware of these rules end up moving to US & getting trapped in these…
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How to calculate Residential Status for Tax Purposes in India
A person’s residential status as per the tax law of a particular jurisdiction has a huge impact on the taxability of income of a person in that jurisdiction. Many a times, I see past tax returns of my NRI clients where incorrect residential status is mentioned and a result, they get a tax notice as…