Category: Tax
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IRS Foreign Bank Account Reporting (FBAR) by US-based NRI
In this earlier post, we have discussed about FATCA and CRS and why US NRI need not fear these new developments as long they are assessing their tax residency properly, offering full income in their tax returns and filing proper reports with the IRS. Speaking of reports, there are two main reports that a US…
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Should I retain my US citizenship/ Green Card on Return to India?
For families who have stayed back in the USA for a considerable time and obtained a US citizenship (USC) or a green card (GC), and now returning back to India for a better career opportunity, or taking care of parents or with an intent to retire back in India, a top of the mind question…
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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…
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Taxation of 401K/IRA (USA) in India
Important Note – This post is dated. Please check updated version here – https://abhinavgulechha.com/401k-traditional-ira-taxation-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…
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Taxation of ESOP/ESPP/RSU/SAR in India
Last Updated Date – August 08, 2025 Employee Stock Option (ESOP) Employee Stock Purchase Plan (ESPP)/Restricted Stock Units (RSU)/Stock Appreciation Rights (SAR) have become one of the most common forms of executive compensation over the past decade. It started from Information technology sector and gradually spread to other sectors as well. While the 2009 change…
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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…
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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…
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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…