| Author | Message | ||
     Wellsfargo Side Hero Username: Wellsfargo Post Number: 2752 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
Just Indian income vasthe you are fine. India lo 25 lakhs salary vasthe 30% bracket lo padathavu. You pay the taxes to the Indian government accordingly. In the US tax returns you will add this income and prepare the return as if this is an additional income. Once the taxes are calculated, you deduct the taxes paid in India. Since the taxes paid in India will be higher, you are not liable to pay anything to the US. The extra amount can be credited in subsequent years. If it is just the salary amount there is another concept called foreign income exclusion where you can declare and exclude the salary that you got in India for tax calculation purposes. However you can't exclude the income from other sources like bank interests, mutual funds etc. Once you exclude, you can't take credit for foreign tax paid and you may end up double taxed for these other incomes. India lo vacche income ki badha ledu. Badha antha US lo vacche chinna chinna dividends etc. long term capital gains etc. avi normal US return lo almost 0 taxable. Kaani veetannitiki India lo 30% kattali kada. ade gola | ||
| Nippu Side Hero Username: Nippu Post Number: 7202 Registered: 12-2008 Posted From: 171.161.160.10 Rating: N/A |
ante india lo 25 lakhs salary vaste india lo 30 percent tax vuntundhi yelaghu. waht about us tax at that time? | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 2751 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
In short you will be in the most dikku malina situation(nenu aa situation lo ne unna). Now coming to specifics.. If you were out side India for 7 or more years before returning back to India, you will be treated as RNOR(Resident but not ordinarily resident) in India for two years. In this case you have the obligation to pay taxes only on the income earned in India to Indian government. After the expiry of the two years, you have the liability to pay taxes on your world wide income to the indian government. similarly as a US citizen, you are supposed to pay taxes on your world wide income to the US government. India-US tax treaty allows you to take credit for the taxes paid in a different country. so you are protected from double taxation. However effectively you will end up paying the highest tax from your pocket. so if your income crosses 20k world wide, you will be paying 30% tax from your pocket. | ||
| Nippu Side Hero Username: Nippu Post Number: 7200 Registered: 12-2008 Posted From: 24.190.235.124 Rating: N/A |
if you are us citizen and working in india. tax paristhiti enti? india lo tax rate same as indian citizens? what about us tax for that india income? | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 2750 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
There is something missing somewhere in these articles. Pissed off people rasi nattu unnayi kaani real mettle ledu aa articles lo. ee tax haven concept ela work avuthundi. everaina koncham vivaram gaa cheppumu | ||
| Lenin Side Hero Username: Lenin Post Number: 3253 Registered: 08-2014 Posted From: 122.107.192.235 Rating: N/A |
govts capitalism ni implement cheyav...it's highly unlikely They will become imperial to feed their ppl...USA is surviving because of neo imperialism, but not of capitalism Capitalism has experienced and experiencing big blows for every 2 decades... Capitalism survives on speculation and unrealistic opportunities | ||
| Sweetveerudu Comedian Username: Sweetveerudu Post Number: 1068 Registered: 05-2014 Posted From: 50.56.228.100 Rating: N/A |
Inko link ... http://www.infowars.com/abolish-the-income-tax-you-wont-beli eve-who-is-getting-away-with-paying-zero-taxes-while-the-mid dle-class-gets-hammered/ so oka stage ki vachchinaka tax pay cheyadam undademo  | ||
| Sweetveerudu Comedian Username: Sweetveerudu Post Number: 1067 Registered: 05-2014 Posted From: 50.56.228.100 Rating: N/A |
http://www.taxfairnessoregon.org/issues/bank-of-america/ | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 2749 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
Tax liabilities India : 33% on corporate net profit. salaries isthe 30% slab for anything above 15.5k USD service tax 12.8% software Product aithe vat 14.5% world wide income taxable for residents USA: 33% on corporate profit tax on dividends which are already taxed salaries taxed at 28%(In most cases) state taxes employment taxes (social security+medicare) 15.6% - employee and employer contribution sales tax for products (silicon valley lo 9.25%) Federal unemployment, state unemployment, CA disability (7.2%) ento ee taxe rates. Capitalism ani cheppuku tirige communist countries rendu. |
