US Tax Implications and Reporting for Indians
Are you an Indian resident earning income in the USA, or an NRI in America with Indian bank accounts and investments? Nainit Savla & Associates provides advisory on FBAR, FATCA, PFIC, India-USA DTAA, and Indian ITR filing obligations for individuals caught between both tax systems.
India-USA DTAA Planning
Treaty analysis for Indo-US situations — reduced withholding on Indian dividends, interest, and royalties paid to US residents, tiebreaker residence rules, and dual-resident planning.
FATCA & FBAR Advisory
Advisory to NRIs in the USA on FBAR (FinCEN 114) filing for Indian bank accounts and FATCA Form 8938 for Indian financial assets — identifying what must be disclosed and when.
PFIC Analysis for Indian Funds
Advisory on PFIC (Passive Foreign Investment Company) classification of Indian mutual funds for US residents — and QEF or Mark-to-Market elections to mitigate punitive US tax.
Indian ITR for US-Based NRIs
Filing of Indian ITR-2 for NRIs in the USA with Indian income — salary, rent, dividends, capital gains, NRE/NRO interest — with Schedule FA and DTAA relief claims.
Repatriation Planning
Tax-efficient repatriation of NRO funds, Indian property sale proceeds, and Indian investment liquidations from India to the USA — Form 15CA/CB and FEMA compliance.
Return to India Planning
Tax planning for NRIs returning to India from the USA — RNOR status optimisation, liquidation of US assets before becoming Indian resident, and portfolio restructuring.
Key US Reporting Requirements for Indians
| Obligation | Trigger | Penalty for Non-Filing |
|---|---|---|
| FBAR (FinCEN 114) | Foreign accounts exceeding USD 10,000 at any time | USD 10,000+ per violation |
| FATCA Form 8938 | Foreign assets exceeding USD 50,000 | USD 10,000 to USD 50,000 |
| PFIC Form 8621 | Holding Indian mutual funds or ETFs | Excess interest charge on distributions |
Why Choose Nainit Savla & Associates?
Our team helps Indians and NRIs navigate the complex intersection of Indian and US tax law — from FBAR and FATCA reporting to PFIC analysis for Indian mutual funds and India-USA DTAA planning. We ensure both your Indian ITR and your US disclosure obligations are handled correctly and on time.
US-India Tax Issues? Get Expert Cross-Border Guidance Today.
FBAR, FATCA, PFIC, DTAA planning, and Indian ITR filing for US-based NRIs — our international tax team handles it all.
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