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What we offer?

  • File your returns in USA and India
  • Advise on US Tax laws and Indian laws
  • Tax Planning in both the countries

BASIC FILING

If you are a US resident or US citizen (whether NRI, PIO or OCI), you must pay taxes in the US on your global income.

Global income in the context of your India investments may include:

Important Note: Difference in tax rules and importance of certain disclosures

There are certain conflicting rules for taxes between India and USA.

Particulars India USA
Dividend Tax free Taxed
Capital Gains Long Term =>3years
Short Term =<3years
Long Term =>3years
Short Term =<1years
House Property 30% standard deduction for Expenses. Depreciation on bulding is not allowed Expenses incurredis allowedasdeduction, Depreciation on bulding is also allowed.

So when you file your tax returns in the US, you must take into account this difference and treat your India income as per the US law.

So the assesse needs to be aware of what are the disclosures required to be made in both countries.

Example 1

Rahul is resident in USA and earning dividends of Indian Companies. As per Indian laws dividends earned in India are tax free, but since it is taxed in US and Rahul is resident of USA, he has pay taxes in USA on dividend income earned India.

Example 2

Rahul a USA resident sold a property in India after 2 years of purchase of property. According to the US law, this sale of property is considered as Long Term, but in India it is considered as Short Term. So when Rahul is filing his Tax Returns in USA he has to consider his sale of property as Long Term in USA.