tcvgsu;503349Hi, I'm in the exact reverse situation as you. I got my shares while in India and partially vested there. I'm in the US now, when I exercised in 2012. And I paid about 54% in combined taxes !! The worst part is - this exercise increased my Net US income considerably, putting me in a totally higher tax bracket. All I could do was take foreign tax credit against taxes paid in India, when I filed my US taxes. You should be able to take a similar credit in India when u file your tax.
TC
Hi TC,
I am in your situation. Most of my ESOPs are granted in India and most of them vested when i was in India. Can I claim the deduction from the US tax department? Does the same exemption for the US tax applies to esop vested when i was in US but was granted in India?
Regards,
Ram