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India usa double taxation avoidance

Tax queries 514 views 1 replies

As per the latest Double Taxation Avoidance Agreement between India and United States, how will long term capital gain in USA of  $(11632) ie -11632 be reflected in Indian Income tax return?

Also how will amounts of retirement account ($ 617500) and social security($19808) recd from USA by deceased assessee will be taxed in India?How will the amounts be shown in Indian Income tax return?

Replies (1)

you have not mention from which the capital loss arise.(i.e. from property. From shares, from mututal fund...etc)

as per the criteria of income tax department loss(negative figure) will be shown as zero. and you have to give same effect in loss schedule.

retirement amount and social security amount received is not taxable in india because it is not a indian income.

subject to section 6 of IT act 1961.


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