Category: Uncategorized
-
Residential rules under US tax law
In this video, Abhinav is explaining Residential status rules under US tax law especially from point of view of Indians on H1B visa in US Video transcript below (kindly note that auto-transcription can contain errors): Hello, and welcome. In this video, I’m sharing the tax residency rules, in USA. Right? So in USA, there are…
-
US citizen/ Green Card holder planning to relocate to India – Some points
Hello and welcome. This is Abhinav Gulechha, and, in this video, I’ll be discussing about a situation where you are a US citizen or a green card holder, and you are planning to relocate to India in a few years. So what are the kind some actionables or some points that you can keep in…
-
Estate Tax Provisions in US – An Overview
Hello, and welcome. This is Abhinav, and I welcome you. In this video, I’m discussing about the estate tax provisions in US, basically, an overview of those provisions. What I’m planning to do is to do a 3 part series, one video on estate tax, second video on the gift tax provisions, and the 3rd…
-
US Estate and Gift tax planning strategies for Returning NRIs – An Overview
Hello, and welcome. So this is the 3rd part in the estate and gift tax series videos. So first video, I discussed the estate tax provisions. The second video, I discussed the gift tax provisions. And now this is the video where did we discuss strategies where how we can legally, avoid or reduce the…
-
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…
-
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…
-
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…
-
Som Datt [ITAT]: Onus is on assessee to prove that distribution from an offshore trust is not taxable in India
Many HNIs create offshore discretionary private trusts with an aim to achieve succession planning goals and escape tax liability in India. However, there is a lack of clarity on taxability of distributions received from these trusts. In this light, there has been an interesting decision given by ITAT Kolkata bench in case of Som Datt…
-
How NRIs can manage currency risk in their investment portfolio
In the past few weeks, we’ve seen China devaluing its currency, US Federal Reserve not increasing its rates and a steady depreciation of INR against USD. As a fall out and knee jerk reaction to such events, there has been a sharp increase in NRI remittances to India to benefit from a weaker rupee (news…
-
Understanding 401K Plans in USA
Today lets discuss about the 401k Plans which are very popular in USA and found in the investment portfolio of most of the returning NRIs coming from USA. In the USA, there are two types of employer-based retirement plans available: defined benefit (where the money that you get on retirement is defined) or defined contribution…