Category: Tax

  • How to calculate Residential Status for tax purposes in USA

    Given the increase in global mobility of employees, tax consultants come across clients who are citizen /resident of another country or even multiple countries. Situation can become complicated when multiple countries have overlapping tax residency rules resulting in double taxation on the same income. A prime example of such cases is a country like USA…

  • 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…

  • Taxation of salary income received from US employer in India

    It may happen that an Indian resident is sent to USA on some deputation work, or a USA resident comes to India and renders services here. These situations can give rise to double taxation whereby both USA and India will try to tax this income. In such a situation, tax implications arise from the point…

  • Seafarer Taxation under Indian Income Tax Act: Way forward after 2016 ITAT Tapas Kr. judgement

    Note – This post may be dated & tax position may have changed. Please stay tuned for update of this post. In case of personalised tax advice, contact me on contact@abhinavgulechha.com Some time back, I had written a post on the 2016 ITAT judgement in the case of  Tapas Bandopadhyay Link Over the course of…

  • Planning to become an NRI? Read financial checklist

    Given the rise in employment opportunities and a global workforce, you can see people going out of India for pursuing opportunities. However, a person who is a resident outside India has to comply with certain laws and regulations enshrined in FEMA and to ensure the the legal and regulatory compliances, some financial tasks should be…