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FBAR for 2018 - INR rate

Chalanachithram.com DB » New TF Industry Related » Archive through February 25, 2019 » FBAR for 2018 - INR rate « Previous Next »
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Telugodu
Junior Artist
Username: Telugodu

Post Number: 789
Registered: 06-2014

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Posted on Saturday, February 23, 2019 - 06:56 am:       


Ramjirao:



Cool.time undi aythe. Thanks bro ð
 

Ramjirao
Junior Artist
Username: Ramjirao

Post Number: 555
Registered: 02-2019

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Posted on Friday, February 22, 2019 - 11:03 pm:       

April 15 lopu file cheyyaali FBAR
 

Telugodu
Junior Artist
Username: Telugodu

Post Number: 788
Registered: 06-2014

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Posted on Friday, February 22, 2019 - 10:50 pm:       


Musafir:



Thanks for the thread bro. Naaku 2018 lo edo oka time more than 7 lakhs undenemo. Ee FbAr eppatilopu file cheyali?
 

Uppu
Hero
Username: Uppu

Post Number: 12265
Registered: 11-2007

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Posted on Friday, February 22, 2019 - 06:28 pm:       


Sapayiraaja:

i do not have NRE/NRO accounts. I have only savings account in India.
Do I need to declare?


anything has $10,000 worth anyday of the year, you need to submit
 

Musafir
Junior Artist
Username: Musafir

Post Number: 70
Registered: 10-2018

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Posted on Friday, February 22, 2019 - 06:17 pm:       


Sapayiraaja:

. I have only savings account in India.



If it is "Domestic" local account, the answer is NO.

Mekosam:

And i believe whatever interest amount earned you have to pay taxes when declared during taxes ?



Correct.
They should issue 1099-int forms for you. Considered as ordinary income and gets added to your Net income.
 

Mekosam
Junior Artist
Username: Mekosam

Post Number: 865
Registered: 09-2011

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Posted on Friday, February 22, 2019 - 05:11 pm:       

And i believe whatever interest amount earned you have to pay taxes when declared during taxes ?
 

Ramjirao
Junior Artist
Username: Ramjirao

Post Number: 553
Registered: 02-2019

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Posted on Friday, February 22, 2019 - 04:44 pm:       

If more than 6.87 lakh even for 1 day you need todo fbar
 

Sapayiraaja
Comedian
Username: Sapayiraaja

Post Number: 1298
Registered: 07-2013

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Posted on Friday, February 22, 2019 - 04:30 pm:       

i do not have NRE/NRO accounts. I have only savings account in India.
Do I need to declare?
 

Uppu
Hero
Username: Uppu

Post Number: 12264
Registered: 11-2007

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Posted on Friday, February 22, 2019 - 03:44 pm:       


Manthri:

one doubt,
If you have money in Insurance funds/Mutual fund/ PF ..do you need to declare ?


Yes, I do that every year, you need to get insurance surrender value for this year
 

Manthri
Side Hero
Username: Manthri

Post Number: 2418
Registered: 02-2013

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Posted on Friday, February 22, 2019 - 03:43 pm:       

one doubt,
If you have money in Insurance funds/Mutual fund/ PF ..do you need to declare ?
 

Musafir
Junior Artist
Username: Musafir

Post Number: 69
Registered: 10-2018

Rating: 
Votes: 1 (Vote!)

Posted on Friday, February 22, 2019 - 03:16 pm:       

https://www.irs.gov/individuals/international-taxpayers/year ly-average-currency-exchange-rates
68.422
For 2018, if your INR balance in NRE or NRO accounts is more than 6,84,220 (6 Lakhs eighty four thousand two hundred and twenty), you need to file FBAR form. You are required to inform IRS that you had such a balance in a foriegn country (India in this case).

***Applies only to NRE/NRO accounts.
Dimag math chatna baad mein ki mere mama ke account mein 10 lakh transfer kiya tha, mujhe report karna hai kya bolke. Nahi karna hai. Sirf NRE/NRO accounts.

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