Accelero Corporation

  Introduction As the world becomes increasingly interconnected, many individuals find themselves managing financial interests across borders. For Indians with businesses in the USA or those holding a Green Card, understanding the intricacies of income tax is crucial. Navigating USA INDIA Taxes can be complex, but with the right knowledge and guidance, it becomes manageable. This blog post will explore the fundamentals of taxable income and deductions for Non-Resident Indians (NRIs), including insights into the India Foreign Tax Credit in Hyderabad. Understanding NRI Status Before diving into the specifics of taxable income and deductions, it is essential to understand what constitutes an NRI for tax purposes. According to Indian tax laws, an individual is considered a resident if they spend 182 days or more in India during a financial year. Those who don't meet this criterion are classified as NRIs. NRIs enjoy certain tax exemptions and benefits in India, but they are also subjec...

  Introduction  Navigating the intricacies of US tax filing can be challenging, especially for US citizens and Green Card Holder Tax residing in India. Understanding the tax obligations, filing requirements, and available relief options is crucial to ensure compliance and minimize tax liabilities. This guide aims to provide comprehensive help for US citizens and Green Card holders living in India, covering key aspects of tax filing. Understanding Your Tax Obligations Citizenship and Residency-Based Taxation The United States follows a citizenship-based taxation system. All US citizens and Green Card holders must report their worldwide income to the IRS, regardless of where they reside. This includes income earned in India. Filing Requirements US citizens and Green Card holders must file an annual tax return if their income exceeds certain thresholds . The age and filing status (single, married filing jointly, head of household, etc.) determine the different thresholds. Even if...