r2i forum

sathsamundar;344099I am preparing to R2I and need advice on a particular situation. I am a USC working for a company in US. I have an opportunity to manage the APAC operations of my company by residing in India. My company does not have any entity or work in India, so primarily my family will be living there while I am travelling extensively in APAC. I will continue to be on US pay roll paying US Federal and state taxes during this period. Since I am not working for an Indian entity or for a customer in India and probably not going to be in India for more than 183 days, I expect not to be paying any taxes in India. I am planning to rent out my house in US during this assignment. My question is since I am renting out my primary residence, will that be an issue in going ahead with this plan. By renting out, I am losing the primary address and will that make me lose my residency status?

What residency status do you think you will lose? You are a USC right?
India is looking at laws which will make you pay tax if you stay here for 60 or more days.
Once you are a USC, there is no issue of "US residency" whether you rent or sell your house. US is going to tax you on global income irrespective of where you stay.
India is going to tax you based on # days in India ... does not matter where else you live. *** India part, reasonably sure the 60 day rule is being proposed, do some search.

Thanks for your response. Yes, I am a USC. I am concerned about what I can use as my permanent address when filing taxes once the house is rented. Can i use a forwarding address or PO box?

sathsamundar;344365Thanks for your response. Yes, I am a USC. I am concerned about what I can use as my permanent address when filing taxes once the house is rented. Can i use a forwarding address or PO box?

I am sure you can use any address where you can pick up mail.

thank you

Sorry for being off topic - but where can I access all the short codes you guys are using here.

R21 and a couple are simple but the rest quickly get to you.

Thanks a lot

graphiterticf;346024Sorry for being off topic - but where can I access all the short codes you guys are using here.

R21 and a couple are simple but the rest quickly get to you.

Thanks a lot

Here you go... enjoy...

http://www.r2iclubforums.com/forums/content.php/16-R2IClub-Glossary

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