r2i forum

Hi,

On the FBAR form (due June 30 every year), do we need to declare bank accounts, FD's etc as well as PF account from Indian employer?

Thanks.

[QUOTE=RRK;252113]NRI can buy Indian Insurances. Foreigner with OCI/PIO also can buy. Only thing is some underwriters expect you to go through medical tests in India, which makes these policies practically not available for remote purchase. As US term policies are cheaper, I don't see a reason to ...

I am no expert on this but as I understand CA does not exclude foreign earned income. You will be taxed only on the portion earned in CA but the total worldwide income will be taken into account to determine the tax rate. This is for FEI exclusion. I am not sure about foreign tax paid credit. If you ...

"I am not going to provide a solution but my question is, if you don't quality for FEI, then you are double taxed, right? This is with reference to your indication of tax credit for the period Mar 09 to Dec 09. " If you don't qualify for FEI, then you are not double taxed. You can take the foreign ...

Anyone have any idea about USC/OCI purchasing term life insurance in India?

Thanks.

Hi,

Are USC/OCI holders allowed to purchase term life insurance in India? I checked with a few private banks (ICICI, HDFC etc.) and was told that you have to be an Indian passport holder. Has anyone purchased term life insurance after R2I?

Thanks.

[QUOTE=Desi;284946]Your foreign earned income goes on line 7. You need to fill out form 2555 for foreign earned income exclusion. The form will explain the numbers from FEI form that will go on line 21 (in parenthesis as a negative number) of form 1040 for foreign earned income exclusion.[/QUOTE ...

Asking a very basic question that I've not been able to figure out. Say I received $x for income from US for which I got a W2 and $y as foreign income. Where should $y be added to the total income? Should Line 7 be $x + $y and other income should be (-$y) if taking the FEI exclusion or should $y be ...

Hi, I am a USC. I came back from vacation in India in mid Jan 2009 and relocated back to India in Mar 2009. I am trying to figure out if I qualify for the FEI exclusion based on bonafide residence or physical presence test for tax year 2009. Based on my understanding, both are applicable for the ...

Anyone?? [quote=r2i_007;149175]In various links mentioned, people have suggested to order US bank/brokerage account check books before leaving. Should these be with the Indian address? Once you move, you cannot be using checks with the old US address. Also, credit cards with automated billings (such ...