I am a citizen of India, currently working as a software engineer in India. Thus I am paying income-tax to Indian-Govt. I am moving to US in November-2014 on L1-Visa. I had following questions in respect to tax implications which I would have to deal with after moving to US :
I will have to pay the tax to Indian-Govt. on the income which I have earned in India from April-2014 to October-2014. So, if my income for these 7-months is 2.4L, would I have to pay any tax to Indian-Govt. as this income comes under the tax-free cap of 2.5L annually?
I have a normal savings-bank-account with HDFC in India. After I move to US, and if I wire-transfer my earnings in US into this HDFC-bank account, would these deposits be considered as taxable-income for me in India, and so, would I have to pay taxes on these deposits in India?
Also, if I transfer my earnings in US into my parents' account in India (which is also a regular saving-bank-account), do my parents(who hold a Permanent-Account-Number which is linked to their bank-acount) have to pay any taxes in India?