r2i forum

I am asking the following because this area is new and there does not seem to be much expertise or good advice. So it is more of a learning curve for me. In which form did you report your NRO interest .. form 1116? Did you file a return in India also? If so, did you take credit for taxes paid in ...

[QUOTE=zen;389459]Finally, had a sit-down meeting with the tax attorney. He is still sticking to his point of not to go for OVDI and instead amend the returns & send amended FBAR. The reasons: - OVDI is meant for people who have been hiding money intentionally. By taking part in OVDI, you are ...

Now that filing income tax returns in two countries (USA and India) based on GLOBAL INCOME is becoming a reality, I would request experienced forum members to share their experiences. It will be a great service. My income situation is simple and I want to understand and learn to do the taxes myself ...

Can somebody give me detailed info. HOW TO FILL OUT Form 1116 (Foreign Tax Credit) for the following situation: NRO account income in India about 3 Lakhs on which Indian income taxes have been paid, about 1.2 lakhs of NRE income on which US taxes have been paid through Schedule B(interest income) Is ...

Hi kkassociate Your reply is useful. I guess you missed a couple of things I have written. Let me clarify without taking a lot of your time.. I have reported NRE income on US return in Schedule B. Also I have been filing returns in India for my NRO income. True they do not include global income ...

Very useful info. Thanks. What is "pre-clearance". What form has to be filled in? What is the benefit? I am a US citizen. I reported NRE income on Schedule B for 2010 as suggested by somebody in this forum. Do you know how to complete Form 1116 in order to take credit for taxes and TDS withheld on ...