Tax status when doing R2I in July or June
Posted: Mon Feb 14, 2011 9:38 am
Folks
Hoping someone has dealt with this question before
I am an Indian citizen planning to R2I in 2011, from US after 5 years. I DON'T qualify for RNOR status.
My question is : If I leave in July, does that make me Resident for tax purposes in both India and US (b'cos India tax year is Apr to Mar). Then what are my tax implications for my Indian income and US income until July.
And what will be my tax implications in India and US, if I leave in May or June.
By the way, Iam married and have 2 kids. My family would most likely leave in May to ensure they get a school in India.
Hoping someone has dealt with this question before
I am an Indian citizen planning to R2I in 2011, from US after 5 years. I DON'T qualify for RNOR status.
My question is : If I leave in July, does that make me Resident for tax purposes in both India and US (b'cos India tax year is Apr to Mar). Then what are my tax implications for my Indian income and US income until July.
And what will be my tax implications in India and US, if I leave in May or June.
By the way, Iam married and have 2 kids. My family would most likely leave in May to ensure they get a school in India.