Search found 2 matches
- Wed Mar 19, 2008 1:02 pm
- Forum: Misc Classifieds
- Topic: Tax benefit on interest on mortgages for NRIs in US
- Replies: -1
- Views: 170
Tax benefit on interest on mortgages for NRIs in US
Why should the banks in India submit any info to IRS or tax agency/dept in any other country? Are you saying taking tax deduction on home loan in India is illegal or fraud? Or are you saying something else? I heard may tax consultants has done that earlier, but none of them had any queries from IRS ...
- Wed Mar 19, 2008 6:35 am
- Forum: Misc Classifieds
- Topic: Tax benefit on interest on mortgages for NRIs in US
- Replies: -1
- Views: 170
Tax benefit on interest on mortgages for NRIs in US
Yes this can be done. Some consultants and individuals argue whether it is right or wrong. I know some tax consultants have deducted the interest paid on home loan in India. Only interest is tax deductible. Today my tax consultant has done for the year 2007. So go ahead and enjoy a few thousands ...