| Author | Message | ||
Saint Legend Username: Saint Post Number: 52806 Registered: 01-2011 Posted From: 12.22.163.132 Rating: N/A |
Super annai..thanks. | ||
Wellsfargo Side Hero Username: Wellsfargo Post Number: 3652 Registered: 06-2012 Posted From: 183.83.43.158 Rating: N/A |
Ledu. It doesn't happen that way. Koncham complicated gaa untadi. In the US, you need to first calculate Long term gains (world wide long term gains in the year) lets call this LG Long term losses lets call this LL short term gains lets call this SG short term losses lets call this SL Your total long term gain(TLG) is LG-LL, if this is greater than zero and if TLG > SL, your net long term capital gain is TLG-SL. This amount will be taxed at 15% flat. If your TLG < 0, you have a long term capital loss and this can be carried over to next 8 years. If 0< TLG < SL, your total long term capital gains are 0 for the year and your total net short term capital gains is SG-(SL-TLG) and this will be added to your income. Calculate the taxes irrespective of the taxes paid in India. after that you can claim a credit for the taxes paid in India. your tax credit will be the lesser of [(income from Indian source)*(total tax due)/(total income)] and [tax paid in India]. ============================================================ ================== In India, since you will be filing as non resident, your tax liability is only for the income in India. Hence for long term capital gains(in shares and mutual funds) you pay zero taxes and for short term capital gains you pay according to your slab. Hope I didn't add to your confusion | ||
Saint Legend Username: Saint Post Number: 52758 Registered: 01-2011 Posted From: 12.22.163.132 Rating: N/A |
already filed anukondi but konni doubts vunnayi. Stocks lo US / india lo chesthe, profits/loss rendu kalipi cheppala? or outside US income kinda choopinchi, US lodi separate ga cheyyala? ex: india lo oka 10k profit anukondi. US lo oka 10k loss anukondi. rendu mix chesi 0 income kinda cheppala? or US 10k separate chesi, idnia lo 10k ni income lo add cheyyala? |