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| *The Commerce Journal>>>India Taxes |
Do I need to Pay tax in Inda for my remittances in my savings account. I am paying tax here in USA.? |
Do I need to Pay tax in Inda for my remittances in my savings account. I am paying tax here in USA.? TRANSFER OF funds from US to your own account in India (either to NRE A/c or NRO a/c or other account in your name) is not taxable. The transfer of funds is not an income. You are just transferring your own money from one account to another account. May be you are transferring it from USA. It dose not matter. So no question of tax at all in India. are you remitting the deposit from usa to india death and taxes are the only guarantees in life.....YES of course you do and you will have to pay them for the rest of your life just like all of us do on a daily basis... unfortunate but true No never. No need to pay tax twice. |
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