Foreign income

[tacobell fan]

Just now, idibezwada said:

anytime 10k dollars kanna above unte chupinchalu...neeku elago avi kaakeeka lekka kabatti chupinchali

uncle

[Sandy_USA]

1 hour ago, msp_gsp said:

There are two parts 

1) IRS

2)FINCEN (FBAR)

for #1, you need to report all earned foreign income like interest received on your NRO/NRE/Savings/Current account, rental property, short term and long term stock selling. You can claim Foreign tax as credit. For rental income, please file schedule E and you can claim property depreciation. 

for #2, if your balance is more than 10000 usd dollars any time in the tax year, you have to file fbar

Please dont play with US tax laws. They are very strict. 

So you mean in the NRI account if you have more than 10k USD dollars I have to provide that statement to fbar. Right? 

 

[Nallamallatiger]

Idi chalamndi misleading vaya.. ikkada nundi pampindi kuda( after tax) supayala ma cousin okadu savadobbing every year 10000 tells paisal pampite Ida supiyyali ani Adi mandatory na uncle 

[Nallamallatiger]

As per rbi manaki India la savings account undoddu uncle all should be converted to either NRE or NRO.. nenu intrest vastdi ₹500 or ₹600 adi supista and India la 0 returns file chesta.. ani ma CA susukuntadu

[JollyBoy]

37 minutes ago, tacobell fan said:

intha siutation rakunda mana hawala batch unnaru @JollyBoy and troop vallu kanapadakunda antha kanistunnaru

middle class ante lokuva aipoindi va neku 

[tacobell fan]

6 minutes ago, JollyBoy said:

middle class ante lokuva aipoindi va neku 

same to you bro

[Rajugadu]

35 minutes ago, Nallamallatiger said:

As per rbi manaki India la savings account undoddu uncle all should be converted to either NRE or NRO.. nenu intrest vastdi ₹500 or ₹600 adi supista and India la 0 returns file chesta.. ani ma CA susukuntadu

Do you file taxes in india as well if you are here in US??

[Yaman02]

what if you get back the money you have already sent to your parents, do we need to file FBAR if the amount exceeds $10k?

[Nallamallatiger]

31 minutes ago, Rajugadu said:

Do you file taxes in india as well if you are here in US??

Yeah 0 income returns sesta.. elagu memu baratha pouralam GC vaddu vani bonda vaddu..future lo avasaram aytadi ani ma CA told 

[tacobell fan]

3 minutes ago, Nallamallatiger said:

Yeah 0 income returns sesta.. elagu memu baratha pouralam GC vaddu vani bonda vaddu..future lo avasaram aytadi ani ma CA told 

idem comedy, they were only asking you to report if you have any income from business or rents. bank interest you will get because you have fixed deposits? 

[Nallamallatiger]

13 minutes ago, tacobell fan said:

idem comedy, they were only asking you to report if you have any income from business or rents. bank interest you will get because you have fixed deposits? 

I don’t have fixed deposits uncle but balance maintain seste estaru ga.. as I don’t have any income am filing 0 returns in India for safer side I will be active in list from last few years 0 return is mandatory even through many don’t care. As I have plan to go back filing for safer side 

[tacobell fan]

1 minute ago, Nallamallatiger said:

I don’t have fixed deposits uncle but balance maintain seste estaru ga.. as I don’t have any income am filing 0 returns in India for safer side I will be active in list from last few years 0 return is mandatory even through many don’t care. As I have plan to go back filing for safer side 

If you transfer money to your own account (which is from your salary meaning you already paid tax) and it will sit for few months you will also get interest for that money. ila prathi daniki filing ante kastame. 

[Nallamallatiger]

8 minutes ago, tacobell fan said:

If you transfer money to your own account (which is from your salary meaning you already paid tax) and it will sit for few months you will also get interest for that money. ila prathi daniki filing ante kastame. 

Adi oka $20 avtadi uncle not mandatory.. am just trying to show them something.ma vadu okadu India ki year motham la us 10k pampite declare cheyyali antadu.. tax la apart from fbar idem comedy no endo 

[tacobell fan]

39 minutes ago, Nallamallatiger said:

Adi oka $20 avtadi uncle not mandatory.. am just trying to show them something.ma vadu okadu India ki year motham la us 10k pampite declare cheyyali antadu.. tax la apart from fbar idem comedy no endo 

filing fees gurinchi kadu but finding people and maintaining paper work 

[Kalam_Youtheman]

4 hours ago, tacobell fan said:

meeru nijam ga bharath  bank kaata lo unna dabbulu gurinchi every year report chestara filing taxes. 

no need unless its more than $10k