I was working for an Indian IT company. I worked in India for few years and then was deputed to a client location in US. In the middle of last year, I quit the Indian company and joined an American IT company. My Indian IT company paid me provident Fund, EPS and Gratuity money.
Now my question is:
- Is this money taxable in US?
I asked the same question to my tax advisor and she told me that if it was money paid by say an American company, for eg:- 401k money after quitting the company (in lieu of transferring the money to my next employer), then yes its taxable under US laws. So she 'thinks' that the money I received from my India IT company should also be taxable. Kindly advise.