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help regarding double taxation
Posted: Mon Sep 26, 2016 2:08 pm
by rahul8687
my background is i migrated to usa on green card and would be going back to india again.
1.i have a business in india and the anual income would be around 10-15lacs inr.where as i wont be having any income in usa.would i be paying taxes in usa for the income i earn in india and usa both or just 1 place
2.also say in future i do some business in usa and india both and i start staying in usa with business in both countries with income in india as 10-15L inr and in usa around 1,00,000 usd.should i be paying income tax in both the countries.
3.Also if i pay income tax in india should i be still filling my taxes in usa. and either way round too.
i would be thankful for any helpful replies
help regarding double taxation
Posted: Mon Sep 26, 2016 4:14 pm
by okonomi
When did you migrate to USA ? How many years have you filed US Tax returns since the time you migrated to USA ?
Each of your items in the quote requires an answer to "Do I need to file a US tax return?"
Try this quiz to find your answer:
https://www.irs.gov/uac/do-i-need-to-file-a-tax-returnUnless you provide information on your US visa status under each scenario, it is hard for others to guess whether or not you need to file a US tax return.
rahul8687;638564my background is i migrated to usa on green card and would be going back to india again.
1.i have a business in india and the anual income would be around 10-15lacs inr.where as i wont be having any income in usa.would i be paying taxes in usa for the income i earn in india and usa both or just 1 place
2.also say in future i do some business in usa and india both and i start staying in usa with business in both countries with income in india as 10-15L inr and in usa around 1,00,000 usd.should i be paying income tax in both the countries.
3.Also if i pay income tax in india should i be still filling my taxes in usa. and either way round too.
i would be thankful for any helpful replies
USA (and India) tax filing (FILING, not paying) would determine whether (or to whom, and how much) you would pay in taxes. Find out your filing requirements first.
help regarding double taxation
Posted: Tue Sep 27, 2016 2:53 am
by rahul8687
I came to usa this year i.e august 2016.i m married with no job in usa but a business in india and my wife is a home maker and she hasnt filled taxes as she doesnt have a job.
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help regarding double taxation
Posted: Tue Sep 27, 2016 8:57 am
by okonomi
rahul8687;638596I came to usa this year i.e august 2016.i m married with no job in usa but a business in india and my wife is a home maker and she hasnt filled taxes as she doesnt have a job.
Ask your immigration sponsor whether he/she would claim you and your wife as their dependents in their US tax return for the tax year 2016.
Ask your immigration sponsor about your mandatory US HEALTHCARE insurance coverage, and how it is paid.
Learn about filing taxes in USA before 2017====>
https://turbotax.intuit.com/tax-tools/tax-tips/General-Tax-Tips/A-Tax-Guide-for-U-S--Immigrants/INF22117.html