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TAXATION IN USA
Have a US 401(k)? Indians must report withdrawals and maturity details in ITR schedules FSI and FAIndian taxpayers with US 401(k) accounts must now report withdrawals and maturity details in ITR schedules FSI and FA. Failure to disclose ...
World's highest-consuming 10 pc causing environmental damage of up to USD 5.7 trn annually: StudyThe world's top consumers, mainly in the US and EU, cause trillions in environmental damage annually. Biodiversity loss and climate change ...
Worked in the US, UK or Canada? Form 40 can help Indians defer income tax liability on foreign pension accountsIndian residents with foreign pension accounts like 401(k) from working in the US, UK, or Canada can now defer India tax liability. By fili...
Invested in US stocks directly and made forex gains due to depreciating Rupee? Know how to compute tax on forex gains and report it in ITRIndian residents investing in US stocks face forex gains tax. These gains are taxable as capital gains when US dollars are converted back t...
Tax deadline 2026: IRS warns mail delays could make returns lateTax season 2026 is ending soon, and many people still need to file. The April 15 deadline is important to avoid penalties. Mail delays coul...
I am an OCI cardholder, will I need to pay tax on inherited assets in India?I am a German citizen, and have an OCI card. How will inheritance of assets located in India be taxed for me? Is the inheritance itself tax...
NRIs tax alert: March 31, 2026 is the deadline to claim foreign tax credit using Form 67 for income earned in FY 2024–25Non-Resident Indians earning income abroad in FY 2024-25 have a crucial deadline. They must file Form 67 by March 31, 2026. This form is es...
SC seeks Finance Ministry's response on petition challenging constitutional validity of securities transaction taxThe Supreme Court has sought a response from the Finance Ministry regarding a petition challenging the constitutional validity of the Secur...
Double tax for NRIs if this form is not filed and this is not claimedNon resident Indian (NRI) taxation: NRIs have to pay double the tax on the same income if their favourable DTAA rates and tax releif claim ...
Simplify whole system of business taxation, says NITI Aayog member Arvind VirmaniResponding to a question on how he would compare the performance of the UPA government's ten years (2004-14) and the Prime Minister Narendr...
Indian-Americans support dual citizenship: SurveyThe survey has been compiled by Foundation for India and Indian Diaspora Studies (FIIDS) USA .
India, US strike 1st bilateral advance pricing agreement: GovernmentThe two nations have resolved over 100 cases of tax disputes involving a tax of about Rs 5,000 crore through Mutual Agreement Procedure (MA...
US to have full reciprocity with India on tax info under FATCAFATCA came into effect from September 30 which has enabled automatic exchange of financial information between India and the US.
Pleased with the final changes announced in Budget 2016We are very pleased with the final changes announced in the Budget 2016 as it will put into effect the original idea of granting DDT exempt...
US-India relations: Business that goes beyond the roadblocksUS-India relations are passing through a challenging phase, however we will soon have a new political dispensation in New Delhi and mid-ter...
Partha Sarathi Shome favours lower corporate tax rates"Lowering of corporate taxes will result in higher job growth and is more development oriented," Shome said.
Getting posted abroad? Know the tax implicationsHere we look at what happens when you are posted abroad through your company and how your salary and allowances would be taxed.
- Foreign Tax Credit: Are you not claiming it?
Foreign Tax Credit is a relevant tool in order to safeguard their financial interest from the evil of double taxation.
- No withholding tax on foreign cos discounting subsidiary's bills
Foreign corporates with subsidiaries in the country are not subject to payment of withholding tax for financial services like discounting o...
- Switzerland moves out of 'grey' list of tax havens
The Organisation for Economic Cooperation and Development has taken Switzerland off from the list of non-cooperative tax havens.