Tax Related Queries
What are the tax implications on investing in US stocks and ETFs as an Indian resident?
For investors in India, there are two types of taxation events when you have returns from your investments in US stocks: Taxes on investment gains: You will be taxed in India for this gain, but will not be taxed in the US. The amount of taxes you ...
What are the tax implications on investing in US stocks and ETFs as an NRI?
You will be taxed as per the laws in the country where you are a tax resident. For example, if you are a tax resident of the UAE, you will pay taxes as per the UAE tax laws. Please note that there is a tax on dividends, which are deducted at the ...
Are there any taxes on rupee depreciation or dollar appreciation when capital gains are converted from USD to INR?
The purchase, as well as sale values, are converted into INR per the sale date. Capital gains are calculated in INR, and the subsequent tax is calculated based on the capital gains. Technically, there is no tax on INR depreciation. Example: You ...
Why is Schedule FA provided as per the calendar year (Jan to Dec)?
Schedule FA is based on the accounting year followed by the country in which the asset is held. This means that in the case of US stocks/ ETFs, a calendar year basis of accounting will be followed. This is why Schedule FA is provided as per the ...
Why is the 1042-S form not generated for my account?
Form 1042-S reports dividend income for US-domicile companies and does not include dividend income received from non-US-domicile companies. In case there is no eligible dividend income in the calendar year, form 1042-S will not be generated for your ...
What is my TIN Number?
The TIN is the Tax Payer Identification Number (TIN) of the investor in the country where tax has been paid. In case TIN has not been allotted in the US, then passport number should be mentioned.
Do I have to pay taxes in the US?
For the capital gains made on your US stocks/ETFs investment, you don’t have to pay taxes in the US. You, however, have to pay taxes on those capital gains in India. For dividend and SLIP income, a portion of the income is withheld in the US as the ...