r2i forum

Tax Gurus,

I searched lot of threads. but didn't get clear answer for the following :

1. . My wife and I have PPF a/c. I had opened these 12 years back. I came to US 8 years back. My understanding is that US tax is not payable on it, till I withdraw the money. Can you please confirm.

2. I have EPF a/c in India which I never closed, even though I have been working for US firm for last 8 years. My understanding is that US tax is not payable on it, till I withdraw the money. Can you please confirm.

Mezz;390164Tax Gurus,

I searched lot of threads. but didn't get clear answer for the following :

1. . My wife and I have PPF a/c. I had opened these 12 years back. I came to US 8 years back. My understanding is that US tax is not payable on it, till I withdraw the money. Can you please confirm.

2. I have EPF a/c in India which I never closed, even though I have been working for US firm for last 8 years. My understanding is that US tax is not payable on it, till I withdraw the money. Can you please confirm.

Tax is payable on both yearly.

Can't this be treated as Blocked Income and interest paid at end of 15 years for PPF ???

Mezz;390217Can't this be treated as Blocked Income and interest paid at end of 15 years for PPF ???

Almost certainly not. You can start withdrawing after 5 years. I doubt you could even defer income over the first five years, for that matter.