IT Returns for NRI's

[GunturMirchiBajji]

Can anyone tell me if you have paid taxes on capital gains on any property that you sell in India ? if so, what is the % for NRI's?  Do we have to pay taxes on rental income in India? 

[Bhai]

ltt

[vravi22]

Boss never boss..i never paid any taxess.. from my rental income in india

[Bhai]

3 minutes ago, vravi22 said:

Boss never boss..i never paid any taxess.. from my rental income in india

o sari kanukko... endhukaina manchidi.

 

nelaki entha vastondi rent?

[KathiRamdaas]

29 minutes ago, GunturMirchiBajji said:

Can anyone tell me if you have paid taxes on capital gains on any property that you sell in India ? if so, what is the % for NRI's?  Do we have to pay taxes on rental income in India? 

any income that you earn outside the country should be declared while tax returns...declare cheyakapothe illegal...audit padthe penalties tho sanka nakinchestaru

[KathiRamdaas]

7 minutes ago, vravi22 said:

Boss never boss..i never paid any taxess.. from my rental income in india

neek edo oka roju kunda pagultadi 

[Bhai]

4 minutes ago, KathiRamdaas said:

neek edo oka roju kunda pagultadi 

nelaki 5k INR vaste ekkada declare chesukuntaru  

[vravi22]

10 minutes ago, KathiRamdaas said:

neek edo oka roju kunda pagultadi 

can you give me clear explanation..because while i can show tham my parents are staying there even my parents are staying in rental home

 

[KathiRamdaas]

1 minute ago, vravi22 said:

can you give me clear explanation..because while i can show tham my parents are staying there even my parents are staying in rental home

 

nee peru meeda properties undi daani meeda income oste adi tax returns appudu declare cheyyale..compulsory

8 minutes ago, Bhai said:

nelaki 5k INR vaste ekkada declare chesukuntaru  

does not matter antha farak em undadu tax returns lo but declare cheyyale...daaniki separate section untadi tax forms lo..

 

[GunturMirchiBajji]

1 hour ago, KathiRamdaas said:

any income that you earn outside the country should be declared while tax returns...declare cheyakapothe illegal...audit padthe penalties tho sanka nakinchestaru

basu nenu declare cheyadanikey ga ee question adigindi. naku rental income approx 1 lakh (INR)/Month vasthadi and recently I sold one plot and thelusu ga akkada black white ani rendu vuntayi manam white meedey tax kadatam kada aa white meeda entha percent tax kattali for NRI's.

[Spartan]

read this for tax policies in India.

https://cleartax.in/NRI

 

apart from filing taxes in India, neeku vache income ni nuvvu US authorities ki chupinchali.and say that you have paid tax in india for that ani.

F-BAR ani untadi u need to file that form. US lo.

[Merabharathmahan]

Rent ki unte matram avi losses laga declare cheyanivvaru and credit cards lo appulu and vati meeda pade interest fines ni chupettoddantaru tax return lo.  But manaku 1 dollar interest vachina or edina vachina dani meeda tax kattumantaru. Thrump gade kattaledu tax inka manamenduku kattali. 

 

BTW, TS nuvvu NRI ayithe Global income meeda Tax lu usa lone kattali not in india. Property sale chesthe long term capital gains meeda emi undadu anukunta tax check with any cpa. India lo vache rent ni future lo usa ki techukunta anukunte usa lo kattu tax otherwise just leave it man. 

[GunturMirchiBajji]

5 hours ago, Spartan said:

read this for tax policies in India.

https://cleartax.in/NRI

 

apart from filing taxes in India, neeku vache income ni nuvvu US authorities ki chupinchali.and say that you have paid tax in india for that ani.

F-BAR ani untadi u need to file that form. US lo.

F-BAR nenu last year file chesanu kani manaki emain NRE FD's vuntey ney F-BAR file cheyali because there will be no TDS deducted for interest on NRE Fd's in INDIA. We have to pay taxes only on the interest that we earned on NRE FD's other than else it is not needed to show any NRO FD's interest or Rental income in US tax returns.

[zzeb]

1 hour ago, GunturMirchiBajji said:

F-BAR nenu last year file chesanu kani manaki emain NRE FD's vuntey ney F-BAR file cheyali because there will be no TDS deducted for interest on NRE Fd's in INDIA. We have to pay taxes only on the interest that we earned on NRE FD's other than else it is not needed to show any NRO FD's interest or Rental income in US tax returns.

The US taxes worldwide income if filing taxes as a US resident. I heard that If you are filing any taxes in India, you still have to declare that income in the US, and show the proof of taxes paid in India here. As per the taxation treaty between India and the US, you should supposedly be getting a tax credit. Best to contact a tax person for more on this topic

As far as FBAR is concerned, it is filed when in any calendar year, the individual holds at least 10,000 USD or more in liquid assets like cash in savings accounts, mutual funds FDs etc in India or outside USA. The above information is from 2011, when i had to go through the FBAR process. Not sure how it is these days.