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Saint
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Username: Saint

Post Number: 7683
Registered: 01-2011
Posted From: 65.248.129.30

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Posted on Wednesday, July 18, 2012 - 04:21 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Saint:

naku india lo savings account above 5L cash vundi...monna june 30 ki fabar ki mav edo lnk edithe print out teesi pampaa....interest emi include seyyaledu ee year returns lo

etanna problem aa


to be specific ..aa account details anni andulo mention chesaaa
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Saint
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Username: Saint

Post Number: 7682
Registered: 01-2011
Posted From: 65.248.129.30

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Posted on Wednesday, July 18, 2012 - 04:20 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

naku india lo savings account above 5L cash vundi...monna june 30 ki fabar ki mav edo lnk edithe print out teesi pampaa....interest emi include seyyaledu ee year returns lo

etanna problem aa
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Emc2
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Username: Emc2

Post Number: 8091
Registered: 03-2008
Posted From: 199.107.16.132

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Posted on Wednesday, July 18, 2012 - 04:16 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Trueleader:




if the FD's are in your name then you have to pay taxes,or as long as those are not NRI accounts and in case eye are ess comes behind you some reason and they cannot relate those accounts to you then you are fine,you don't have to worry..
cherapakura chedevu.
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Gotcha
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Username: Gotcha

Post Number: 9082
Registered: 02-2008
Posted From: 64.134.162.105

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Posted on Wednesday, July 18, 2012 - 03:15 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

U pay interest to IRS, u dont pay to indian govt
This real estate is for sale.
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Trueleader
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Username: Trueleader

Post Number: 3692
Registered: 09-2009
Posted From: 208.68.246.250

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Posted on Wednesday, July 18, 2012 - 02:50 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Emc2:




If i send money 50 lakhs to my indian account and deposit for FD monthly interest.......For interest profit i should report that to Indian Govt and pay taxes or should i report in FBAR and pay taxes to IRS?
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Gotcha
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Username: Gotcha

Post Number: 9081
Registered: 02-2008
Posted From: 64.134.162.105

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Posted on Wednesday, July 18, 2012 - 02:37 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

If u have siblings dont send it to ur dad account
This real estate is for sale.
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Emc2
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Username: Emc2

Post Number: 8090
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Posted From: 199.107.16.132

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Posted on Wednesday, July 18, 2012 - 02:30 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Trueleader:




yes you have to do it,

any given point of time if you have more than $10k in you foreign bank account you have to file for it.

if you want to avoid filing FBAR transfer your money 10 to 11 times..

with draw immediately each time when you send your money..so you don't have to file FBAR..
cherapakura chedevu.
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Moviefan84
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Username: Moviefan84

Post Number: 5880
Registered: 10-2008
Posted From: 150.148.0.65

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Posted on Wednesday, July 18, 2012 - 02:26 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Trueleader:

So if i send 50 lakhs to my INDIA bank account( Joint account my father +mine)......my father can withdraw and buy land there......but i should report in FABR ??




maaku already vunna doubtlu chaalu.. nuvvu ippudu kottha doubtlu create cheyyakammaa.. (venky style lo ..)
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Trueleader
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Username: Trueleader

Post Number: 3690
Registered: 09-2009
Posted From: 208.68.246.250

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Posted on Wednesday, July 18, 2012 - 02:18 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Maverick:

ila cheyakoodadu ani unda




yes...according to my Indian CPA
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Ustad
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Username: Ustad

Post Number: 10466
Registered: 07-2008
Posted From: 76.173.42.79

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Posted on Wednesday, July 18, 2012 - 02:11 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Trueleader:

mana USA lo vundi kuda India lo Agriculture land or site konavachu kada



Commercial/residential plot/Apt/House - Yes.

Agri land - No.
Fan of Fab 5: Sachin, Rahul, Saurav, Laxman and Kumble.
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Maverick
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Username: Maverick

Post Number: 39616
Registered: 01-2008
Posted From: 70.39.231.164

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Posted on Wednesday, July 18, 2012 - 02:05 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

>>Can he buy on my name

i dont think this will be a problem..ee power of attorney/signatures head ache tappa..cash from ur account only anna rule emi ledu kada..he can inturn gift it to u?ila cheyakoodadu ani unda
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Xxx
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Username: Xxx

Post Number: 2988
Registered: 04-2009
Posted From: 166.82.172.153

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Posted on Wednesday, July 18, 2012 - 02:04 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Trueleader:

Can he buy on my name




he cannot buy on your name .. he will buy on his name and eventually he will pass it on to you
denmark lo ilantidhi jarigi unte nuvvu help sesthavu ante nenu namma...ye pak/bangla nunchi vacchanu ani seppesi dobbese vadivi...Hater
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Trueleader
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Username: Trueleader

Post Number: 3689
Registered: 09-2009
Posted From: 208.68.246.250

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Posted on Wednesday, July 18, 2012 - 02:02 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Good:

If you are a citizen of US, you can't buy agriculture lands in India




I am not USC


Maverick:

i do this to avoid confusion..aslong as its not in ur name, u dont have to report fabar




But india lo ami problem vundadha......if i send money on fathers name.....he can buy property on his name....right ?

Can he buy on my name
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Gotcha
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Username: Gotcha

Post Number: 9080
Registered: 02-2008
Posted From: 64.134.162.105

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Posted on Wednesday, July 18, 2012 - 02:01 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

U cant bring that money back if you send it to ur dad, better send it to your account only
This real estate is for sale.
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Good
Junior Artist
Username: Good

Post Number: 765
Registered: 10-2011
Posted From: 198.204.133.208

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Posted on Wednesday, July 18, 2012 - 01:58 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

If you are a citizen of US, you can't buy agriculture lands in India
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Maverick
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Username: Maverick

Post Number: 39615
Registered: 01-2008
Posted From: 70.39.231.164

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Posted on Wednesday, July 18, 2012 - 01:58 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

>>should i send 50 lakhs directly to my father Individual account as Gift...

i do this to avoid confusion..aslong as its not in ur name, u dont have to report fabar
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Trueleader
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Username: Trueleader

Post Number: 3688
Registered: 09-2009
Posted From: 208.68.246.250

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Posted on Wednesday, July 18, 2012 - 01:57 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Report of Foreign Bank and Financial Accounts (FBAR)
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Trueleader
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Username: Trueleader

Post Number: 3687
Registered: 09-2009
Posted From: 208.68.246.250

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Posted on Wednesday, July 18, 2012 - 01:56 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

I want to buy property of 50 lakhs in INDIA on my name.

mana USA lo vundi kuda India lo Agriculture land or site konavachu kada....i heard our parents can register on our name though we are in usa

So if i send 50 lakhs to my INDIA bank account( Joint account my father +mine)......my father can withdraw and buy land there......but i should report in FABR ??

or should i send 50 lakhs directly to my father Individual account as Gift....he can property on my name ? which one is better ?

Please clarify

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