Category: Tax
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Taxation of 401K/IRA (USA) in India
Most of the returning NRIs from USA who have spent considerable time abroad have a good chunk of the total investment corpus invested in 401K plans and hence have a question on taxation of their 401K/IRA investments in India. 401K/ IRA taxation in India is a complicated area and considering the applicable penalties on foreign…
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Taxation of salary income received from US employer in India
It may happen that an Indian resident is sent to USA on some deputation work, or a USA resident comes to India and renders services here. These situations can give rise to double taxation whereby both USA and India will try to tax this income. In such a situation, tax implications arise from the point…
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Seafarer Taxation under Indian Income Tax Act: Way forward after 2016 ITAT Tapas Kr. judgement
Note – This post may be dated & tax position may have changed. Please stay tuned for update of this post. In case of personalised tax advice, contact me on contact@abhinavgulechha.com Some time back, I had written a post on the 2016 ITAT judgement in the case of Tapas Bandopadhyay Link Over the course of…
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Planning to become an NRI? Read financial checklist
Given the rise in employment opportunities and a global workforce, you can see people going out of India for pursuing opportunities. However, a person who is a resident outside India has to comply with certain laws and regulations enshrined in FEMA and to ensure the the legal and regulatory compliances, some financial tasks should be…