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Tax on money transferred from US to India

Posted: Fri Jun 03, 2011 11:33 am
by makkumatr
Hello
I am an Indian citizen who has R2Ied and am now transferring all my money from my US bank account to my regular India bank account using ICICI service.
Are there any tax issues related to this I need to be aware of?
I have already paid tax on the money earned in the US, so I assume I would not be double taxed by paying more because I transferred that money to India. Can someone please clarify?
Also, do I need to submit any form to IRS for transferring my money out of US?
Thanks!

Tax on money transferred from US to India

Posted: Fri Jun 03, 2011 10:23 pm
by dbs
GOI will not tax you on the money transferred.

Tax on money transferred from US to India

Posted: Sat Jun 04, 2011 12:49 am
by ganandR2I

Tax on money transferred from US to India

Posted: Tue Jun 14, 2011 2:45 pm
by makkumatr
Thanks. Looks like I don't need to pay any tax on the money transfer.