r2i forum

:(We were US residents on H1/H4 for 10 years before we headed back to India in 2006. While in the US we incorporated a company which was initially HQ in the US but we later moved the HQ to India. The company has grown and has branches in the US and India.We are all Indian citizens and my children will beheading to the US for further studies soon. I am keen to apply for a GC but my husband, who heads the company, says we will have huge tax implications if we sell the company while on a GC. His advise is to wait until we sell our share then apply for the GC. What would the US tax percent be on the sale of our share in the company? Will it be more than the taxes that we will be paying the GOI?

1) What is your current country of residence ? India ?

2) Are you currently filing your US taxes as US Residents or Non-resident aliens ?

1. We reside in India, but husband does a lot of travel to US as major portion of business is in the US.

2. Taxes filed as US non residents as hubby is on L1 currently.

You said you moved the HQ to India. What about shares ? Are they Indian company shares or US company shares ? or both ?

I think they are all Indian company shares.

I think your best bet is to work with Mr.Rajesh Dhruva and tackle the tax problems.
Pls dont look for a solution in internet. You need professional help and get things right.

Who is Mr Rajesh Dhruva and where can I contact him?

Chits;297513Who is Mr Rajesh Dhruva and where can I contact him?

You can post your query in this thread Rajesh Dhruva's FEMA & Tax Corner - Your Indian Tax Queries answered ! or send him PM(Private message).

Your post count has to be 10 to use PM feature.

_____
Posted as Member