I have received a royalty from one of the projects I worked on when I was a student at USA University. For the last 5 years, I have moved back to my home country India where I now live and work.
I wanted to understand in this case :
- what taxes do I need to pay
- do I need to report my India income to IRS
- do I need to report US Income to Indian Income Tax.
- What are the tax treaty benefits
- Do I need to submit W8BEN to my Univ.