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I am a US citizen and own a house in India. I also have some business interests in India that I'm planning to wind up.

I would like to know how to bring my money to US? What sort of interest will I have to pay...and where? As a US citizen do I pay tax in India?

  • Your nationality is probably irrelevant to whether or not you owe tax in the country in which you do business. You should check whether the USA and India have a tax reciprocity agreement. If not, you will have to pay tax in both countries. – Rupert Morrish Dec 28 '17 at 19:14
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I would like to know how to bring my money to US?

By wire transfer. You will need a CA. Form 15CA and 15 CB need to be filled.

What sort of interest will I have to pay...and where?

There is no interest to be paid. The sale of house / business will result in a capital gains event. Taxes need to be paid on capital gains in India.

As a US citizen do I pay tax in India?

Yes. The scenerio you describe creates a tax event for you in India.

Related question: Transferring Money from India

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