r2i forum

Hi

I am an US citizen, moved to India on Dec 2009 after selling my house in US.

However I haved changed the address on my US bank accounts with my brother's address who has a own house in US. I have filed my 2009 taxes with the US address of my brother's address.

My question is can I change my address to the India Address on 1040 for tax filing for 2010.( Or is it a Must that I maintain an US address)

Should I declare the rental income from India as my income on 1040

I have not worked in India at all till today , so no salary income in India. I have rental income of Rs15,000/month. Out of this I am paying Rs6000/month for mortigage on the house from which I am getting the rental income.

I have NRE and NRO accounts. When I sold my US house, I trasfered the funds to NRE account and used that money to pay off some of the loan on my house.

I have small amount of money in the Saving account in NRO and NRE accounts, I get very little like Rs 3000 as interest/quarterly and they also deduct the tax at source every quarter. Should I declare this as interest earned.

I have opened the NRO and NRE accounts in 2004, however there was not much money in the accounts, nor did I earn great amount of interest.

Please..................do advice me. Thank YoU!

Hi,

Since you are a USC you have to report your global income to the IRS. Based on the facts given by you, there is no need to worry as you have income below the exemption level and would not owe any taxes to the IRS. Also you have file the India tax return to claim the refund from the Indian IT Authority.

We assist USC and GC Holders with both US and India tax filings. For more information and details mail us at [email][email protected][/email]

Regards,
KKA