0
votes
0answers
27 views

Which Bank can help me cash a US treasury Check in India

ICICI bank refuses to entertain inspite of having a bank account, any other options. Any guidance is highly appreciated.
1
vote
2answers
42 views

Tax considerations for outsourcing freelance work to foreign country

I've seen this asked a few different ways (closest was here), but I am looking to find out from the business's perspective, how to report (if necessary) the amount paid to a foreign contractor. My ...
0
votes
0answers
11 views

What is the cheapest way to get funds from the sale of stocks in a Morgan Stanley BenefitAccess account to India?

I hold ~ 200 MSFT shares and am planning to sell them... Last time I sold shares and opted for a wire transfer, I lost nearly 3% in fees and commissions (as compared to a naive conversion of No. Of ...
0
votes
1answer
65 views

How to transfer money from the US to India without paying taxes?

During my tenure in US, I deposited money in Wells Fargo checking account. I had to move to India last year. Now I would like to close the Wells Fargo account and get money transferred to India. ...
0
votes
0answers
16 views

Can I transfer my RSU/ESPP shares money to a friend working in US?

I am an Indian citizen. I need to sell the ESPP and RSU shares granted for US company. I want to transfer the money to my friend's account, who is working in US but is an Indian citizen. He will in ...
0
votes
1answer
92 views

I am not a US Citizen But Can co own the LLC company with my US National Cousin?

I am in India and I provide projects to Indian companies that i get from US, but lots of companies asking me to open a LLC company and Bank account as they feel comfortable in paying in my US account ...
0
votes
1answer
120 views

How to get money transferred from the United States to India?

My brother has a registered company in the USA and has a payment gateway. Now here in India I need to use his gateway for payment as I am into online technical services and have a registered company. ...
4
votes
1answer
342 views

How can I cash US treasury check in India?

I have a United States Treasury check. Please let me know how to encash it in India. I tried ICICI bank but they are unable to process it.
1
vote
1answer
34 views

Can I claim a full tax deduction in India of the entire amount withheld from my U.S.-source income?

I am an Indian citizen resident in India. Say I earn $1000 from a US source. They withhold 30% since I haven't provided an ITIN in my W8ben. So I get $700 in hand. I understand that I have to report ...
1
vote
1answer
108 views

Buying property in India: paying loan/mortgage

I am on a H1B visa in USA and thinking about buying property in India. What is the best way to make payments from USA bank ac to pay loan/mortgage in India? Can I get tax relief for loan/mortgage ...
0
votes
1answer
90 views

Selling property in India and gettting back money to USA

I am on H1b visa in USA and thinking about buying property in India. Suppose I alraedy bought some property in India, now in future if i sell the property in India, then how can i get that money back ...
1
vote
2answers
214 views

Buying property in India : FBAR declaration.

I am on H1b visa in USA and thinking about buying property in India. If I buy any property in india,do I need to report my property in USA income tax return, FBAR or anywhere else? Do i need to pay ...
1
vote
1answer
57 views

Buying property in India : joint owner

I am on H1b visa in USA and thinkg about buying property in India. I have a lot of confusion in this matter. Should I buy property on my own name? or me and my father's joint name? If I keep my ...
1
vote
1answer
763 views

Can I transfer money from an NRE account to a USA checking account?

I want to transfer some money from USA checking account to my Indian NRE account to get the benefit of a good interest rate. But when I need this money back in USA, can I transfer money from my NRE ...
-2
votes
1answer
105 views

Roth conversion: US tax brackets for Non-resident Aliens (residing in India)

Question 1: If I move money from a traditional to roth IRA (or pretax 401k to roth) account, what are the US tax brackets? Are there any standard deductions? Will I have to pay any taxes in India for ...
1
vote
2answers
71 views

US tax for a resident NRI

I am a recent resident and filing for my taxes. However I have investments in India (stocks and real estate). I would like to know since I am paying taxes for those investments in India, would it be ...
3
votes
1answer
347 views

Can F1 OPT +H1B claim tax treaty benefits

I have been in USA for about two and a half half years on F1 visa. In 2013 I was on at F1 and F1 OPT till 30 September 2013. After that I switch to H1B status. I am a nonresident alien for tax ...
2
votes
1answer
122 views

Are distributions from Roth 401k or Roth IRA accounts taxed in India?

I am wondering if India distinguishes between pre-tax and roth IRA/401k accounts. So, if I am contributing to a roth account (401k and/or IRA) - would I have to pay taxes in India again: On the ...
1
vote
2answers
311 views

Tax implications upon withdrawal of 401(k) or IRA while residing in India

Hypothetical situation. Let's say I am an Indian citizen living in India (and have some income). And, I withdraw money from my 401(k) or IRA. If its a traditional 401(k) or IRA, I understand that ...
1
vote
1answer
2k views

How many dollars I can transfer to my Indian bank account without letting IRS know?

Could someone please let me know how much money I would be able to transfer to India from my US bank account to my regular bank account. Do I have to let IRS know about it? What are the TAX Rules? I ...
1
vote
1answer
95 views

How would by Taxes be calculated on H1B and India Partnership Firm

I am going to USA on H1B visa and planning to stay in USA for 3 years. I also have registered partnership firm on my name in INDIA, from which i earn about 8-12 lakh per annum How would i be taxed in ...
2
votes
1answer
208 views

Providing Client W-9 or W-8BEN forms

I am part of a small outsourcing company and have providing service to clients in the USA for a few years. The work is entirely carried out in India and we only employ Indian nationals to do it. ...
0
votes
1answer
183 views

Indian Resident Working for US company

I am an Indian Resident working for a US Company as an employee. The work location is Bangalore, India. The salary is credited by US company after Deduction of tax as per US laws then credited to the ...
1
vote
2answers
160 views

Trading US stocks from India

I used to live in US on H1B visa. I have opened a trading account in US. Now I have moved back to India but I am still doing trading with US account. Also I have not closed my bank account in US. My ...
2
votes
1answer
237 views

US tax liability for a non-resident with a US LLC that does business in the US

I'm a non-resident of the US and I've never been to the US. However, I have an LLC in the US. I sell computer software warranty services where we fix computer problems remotely from India. I have a ...
2
votes
1answer
1k views

US income taxes for an Indian citizen with US-sourced income

I am an Indian citizen who left US after completing my masters in Aug 2010. Since then I have never re-entered the US and I stayed only in India. I was in the US only on a student visa and did not ...
2
votes
1answer
370 views

What is the maximum amount of money I can send from the US to India per year?

I heard that there is a limit on the amount I can send. Can someone shed light on this? Also, do I have to notify the IRS if I send above a certain amount? What is the amount?
1
vote
1answer
153 views

Can I claim a US tax benefit if I'm paying a mortgage on an Indian property through an Indian bank?

I live in the USA on a green card. I bought house in India. I have taken the bank loan from an Indian bank to buy my house. I am paying my mortgage through a Non-Resident External (NRE) account at an ...
1
vote
1answer
409 views

Will I have to pay taxes in India when I transfer money from a US bank to an Indian bank (Different a/c holders)?

I am based in US and plan to send money to India. A similar question addresses the issue when money is being transferred to my own NRE/NRO/FCNR account in India. I was wondering whether the tax ...
7
votes
2answers
15k views

Will I have to pay taxes in India when I transfer money from a US bank to an Indian savings account?

I am currently in US, and would like to transfer some amount from my US Bank account to a savings account based in India on a monthly basis through a third party like Xoom or Transfast. If I'm going ...
3
votes
2answers
1k views

Tax questions - Working from India for US company

I am working from India for a US company and as per my knowledge I am not liable to pay any tax to US govt. My first question is can I have them deposit my pay check in US account without any ...
0
votes
0answers
48 views

Investing in US Markets from India [duplicate]

Possible Duplicate: How can I trade in U.S stock exchange living in India by choosing the broker in U.S? I don't reside in US but would like to invest in US markets. If not in specific ...
3
votes
3answers
8k views

Indian working in US on H1B - Do I have to pay taxes on interest earned from Savings Bank Account in India

I am an Indian citizen, currently living in US. I am on H1-B visa and employed in a company. I stay there pretty much all year long. This means I will be classified as an RA (Resident Alien). ...
1
vote
2answers
2k views

Applicability of W-8BEN form to Indian citizen working in India for subsidiary of a U.S. company?

I am an Indian citizen and employed by a legal entity incorporated in India. The parent company of this legal entity is a U.S. bank. Recently, all employees received a notification that since the ...
1
vote
1answer
120 views

Which USA Brokerage Firms can I transfer my India stocks to? [closed]

I would like to know which US brokerage firms I can transfer my India stocks to, after finding out my current brokerage (TD Ameritratde) requires doing so...
5
votes
2answers
3k views

Cashing a foreign check in US

Is it possible to deposit a check issued by a foreign bank in a US bank? To be specific, I would like to know if I can deposit a check issued by a bank in India in INR in my bank in US. I was able to ...
0
votes
3answers
235 views

What is an IRA and is it applicable for Indian citizens?

Is an IRA useful for Indian citizens? What would an IRA be used for, and why would I want it?
4
votes
5answers
877 views

Moving back to India in a few years. Should I keep my savings account in the U.S. or in India?

My savings account in the U.S. says that it gives me an interest rate of 0.01% and it comes with a lot of restrictions (like limiting the number of transactions per month etc.), and checking account ...
1
vote
3answers
9k views

How can I trade in U.S stock exchange living in India by choosing the broker in U.S?

I would appreciate if you kindly suggest an answer for this question.Anything incomplete in this question should be assumed. And also please suggest which is the best brokerage firm/broker for this ...
4
votes
2answers
444 views

My friend found out about FBAR some time after the fact. What can he do now?

My friend sold a property in India and he has funds in his bank account in India. He was thinking about either buying another property with that money to avoid taxes or something like that. (You have ...
5
votes
1answer
166 views

Foreign tax credit

I was a student in one of the universities in Texas before I graduated in Aug 2010 and moved back home to India. However since June 2010 till date, I have been working with a US based company. ...
1
vote
1answer
2k views

What are the tax liabilities for an Indian citizen working in the US?

I have an opportunity to work in the US for a period of 1-2 year. as I have gone through the link, it suggest I don't have to pay any taxes in India as it is already included in federal tax. I am ...
1
vote
3answers
2k views

If I am Indian citizen residing in India but earning through online freelancing in US dollars, to whom do I pay taxes?

Say I am an Indian citizen and residing in India and earning through online freelancing software programming in US dollars. Which government do I pay taxes to? Do I pay some taxes to Indian ...
4
votes
3answers
1k views

If I am Indian citizen residing in US and earning there, do I have to pay taxes to India?

Say, I am an Indian citizen and living and working in US, do I still have to pay some taxes to Indian government? My first thought is why should I be paying taxes to Indian government because neither ...