Capital gain income of nri us citizen
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 August 2017
Dear Experts,
As per US laws , US citizen have to show their income earned in india /or across globe in the US ITR filling.My question is that my relative who earns Long term capital gain in India, how would he treat this income in USA, since it is exempt i India .
for other income i add his indian income to US income and then give benefit of taxes paid in India.
Please help should i show this income there ???It will be taxed at 30%
As per US laws , US citizen have to show their income earned in india /or across globe in the US ITR filling.My question is that my relative who earns Long term capital gain in India, how would he treat this income in USA, since it is exempt i India .
for other income i add his indian income to US income and then give benefit of taxes paid in India.
Please help should i show this income there ???It will be taxed at 30%
24 August 2017
you need to take the help of a CPA who can guide you better.
As far as I am aware of US federal rules, improper disclosure is a high level crime in USA.
As far as I am aware of US federal rules, improper disclosure is a high level crime in USA.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
