ZuniorVentiyar Posted June 27, 2014 Report Posted June 27, 2014 ee sari FBAR apply chesthunavallu ... next time nundi meeru TAX file chesthunnapudu Form 1040 or 1099 etc... ask u r tax prepare to include your foreign income in to u r Schedule B part 3 and report your income from foreign source ( like interest on u r bank account / FDs etcc....) ....elagi adi chala thakkuvee untundi ..... u may need to get tax TDS certificate from u r foreign bank , online lo generate chesukovachu from u r online banking site or at https://nriservices.tdscpc.gov.in/nriapp/login.xhtml ( i am not sure about this is IRS accept this as a source or not) ..... oka vella india lo tax kaduthuntee , u should add your form12a / form 16 to claim your tax exception from US I.R.S ..... inka emina miss avuthuntee add cheyandriii ikkadaa ..............
ZuniorVentiyar Posted June 27, 2014 Author Report Posted June 27, 2014 LTT ...... no one filing FBAR??????
ZuniorVentiyar Posted June 27, 2014 Author Report Posted June 27, 2014 get Form 26 AS (Tax credit certificate from Indian Banks) here http://incometaxindia.gov.in/26ASTaxCreditStatement.asp
Sastrygaru Posted June 27, 2014 Report Posted June 27, 2014 ee Fbar ni last 2 years kelli artham cheskovadaniki. .try chesthunna. okallu avasaram leedhu antaaru.. inkokallu.. nuvvu India ki pamper money nee peeru lo kaakuda.. mee parents peru unna account lo unte.. emi problem raadhu antaar... endho.. suudali malla inkosari..
ZuniorVentiyar Posted June 27, 2014 Author Report Posted June 27, 2014 OK let me clarify you naaku thelisinantha varaku..... As u r US resident ( as per tax year) ... u have to pay tax on u r global earning to USA Govt.... ( no double tax if u pay tax in other country u can claim exception on that ).... when u r filing u r tax ex: Form 1040 or 1099 etc .... there is an option called report foreign income (you need not to mention exact amount but income report cheyali) .... if u tick yes u have to report u r forign income with u r tax submit coming to FBAR .. this is another form to inform USA govt taht how much foreign funds u have ( this will help US govt to track illegal activities , and calculate taxes on foreign income going forward) , USA govt currently say 10,000$ in all u r foreign accounts ..... so u have to report it ex: ee year nuvvu oka 20K report chesavu anukoo ... dhani pi neeku interest vosthundi kadha India bank lo .... adi neeku income ... so u have to pay tax on that or u have to show u paid tax in India .... neenu kindha cheppina forms use avuthayi daniki... ee Fbar ni last 2 years kelli artham cheskovadaniki. .try chesthunna. okallu avasaram leedhu antaaru.. inkokallu.. nuvvu India ki pamper money nee peeru lo kaakuda.. mee parents peru unna account lo unte.. emi problem raadhu antaar... endho.. suudali malla inkosari..
Sastrygaru Posted June 27, 2014 Report Posted June 27, 2014 OK let me clarify you naaku thelisinantha varaku..... As u r US resident ( as per tax year) ... u have to pay tax on u r global earning to USA Govt.... ( no double tax if u pay tax in other country u can claim exception on that ).... when u r filing u r tax ex: Form 1040 or 1099 etc .... there is an option called report foreign income (you need not to mention exact amount but income report cheyali) .... if u tick yes u have to report u r forign income with u r tax submit coming to FBAR .. this is another form to inform USA govt taht how much foreign funds u have ( this will help US govt to track illegal activities , and calculate taxes on foreign income going forward) , USA govt currently say 10,000$ in all u r foreign accounts ..... so u have to report it ex: ee year nuvvu oka 20K report chesavu anukoo ... dhani pi neeku interest vosthundi kadha India bank lo .... adi neeku income ... so u have to pay tax on that or u have to show u paid tax in India .... neenu kindha cheppina forms use avuthayi daniki... ohh cool thanks bhayya.
dkchinnari Posted June 27, 2014 Report Posted June 27, 2014 OK let me clarify you naaku thelisinantha varaku..... As u r US resident ( as per tax year) ... u have to pay tax on u r global earning to USA Govt.... ( no double tax if u pay tax in other country u can claim exception on that ).... when u r filing u r tax ex: Form 1040 or 1099 etc .... there is an option called report foreign income (you need not to mention exact amount but income report cheyali) .... if u tick yes u have to report u r forign income with u r tax submit coming to FBAR .. this is another form to inform USA govt taht how much foreign funds u have ( this will help US govt to track illegal activities , and calculate taxes on foreign income going forward) , USA govt currently say 10,000$ in all u r foreign accounts ..... so u have to report it ex: ee year nuvvu oka 20K report chesavu anukoo ... dhani pi neeku interest vosthundi kadha India bank lo .... adi neeku income ... so u have to pay tax on that or u have to show u paid tax in India .... neenu kindha cheppina forms use avuthayi daniki... parents accounts ki transfer chesthe..bno need..only nee account lo more than 10k unte report cheyali anukunta
ZuniorVentiyar Posted June 27, 2014 Author Report Posted June 27, 2014 nuvvu parents accounts lo dabbu vesavu anu koo .... bank pay interest on that amount to u r parents not U .... so adi nee income kadhu and nuvvu report cheyalsina avasaram ledhu bro .... parents accounts ki transfer chesthe..bno need..only nee account lo more than 10k unte report cheyali anukunta
vadapav Posted June 27, 2014 Report Posted June 27, 2014 last 1 yr ga parents acnt ki transfering nenu... but aa previous yrs ki file cheyala leda ippudu
ZuniorVentiyar Posted June 27, 2014 Author Report Posted June 27, 2014 previous years vi ippudu cheyachu .... form lo oka option untundi .... I don't know about F B A.R so andhukee cheyaledhu ani ... u can choose that option .... but do it going forward man last 1 yr ga parents acnt ki transfering nenu... but aa previous yrs ki file cheyala leda ippudu
ZuniorVentiyar Posted June 27, 2014 Author Report Posted June 27, 2014 inko IMP information enti antee ... INDIA lo manaki banks chala thakkuva interest pay chetsthayi ..... so aa interest income ikkkada chupinchina ..... hardly u may end up in paying extra 50-100$ tax ......dhani kosam ila rick thesukovadam avasaram ledhu
vadapav Posted June 27, 2014 Report Posted June 27, 2014 previous years vi ippudu cheyachu .... form lo oka option untundi .... I don't know about F B A.R so andhukee cheyaledhu ani ... u can choose that option .... but do it going forward man going fwd akkkarledu kada mayya since already transfering to parents acnt but previous years dhe clarity ravali
dkchinnari Posted June 27, 2014 Report Posted June 27, 2014 nuvvu parents accounts lo dabbu vesavu anu koo .... bank pay interest on that amount to u r parents not U .... so adi nee income kadhu and nuvvu report cheyalsina avasaram ledhu bro .... adhe...mostly mana vallu evaru direct valla accunt cheyaru naukunta..
ZuniorVentiyar Posted June 27, 2014 Author Report Posted June 27, 2014 ippadi varaku FBAR pi serious actions emi levu mayaa ... so light thesukovachu anukuntaa ... but ippadi nundi I_R_S serious gaa undi going fwd akkkarledu kada mayya since already transfering to parents acnt but previous years dhe clarity ravali
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