19 December 2012
A person was born in USA, thereby she is a US citizen. Immediately after birth her parents shifted to India. She earns interest income in India. According to US tax laws, she has to file return of income in USA as she is citizen of USA. What is the tax relief available to her. At what rate she has to pay tax in USA
20 December 2012
Dear sir , There is double taxation relief u/s 90 or 91 .The income received by her is taxable both in india and us .................She will get lower tax rate benefit , If US TAX RATE IS MORE THAN INDIAN TAX RATE THEN HE WILL GET THE BENEFIT FOR INDIAN TAX RATE ......LIKE WISE .....US TAX RATE IS AS PER US TAXATION RULES ........
CAclubindia
