Dear Sir,
My friend who stays in U.S.A wants to know whether he can file taxes from there on line or should he hire someone to do it for him, as he is opening a NRO bank a/c in India,wherein the interest earned on any type of NRO bank a/c in India are taxed ubder the account holder's bracket.
Kindly let me know whether he can file taxes from U.S on line or should he hire someone to do it for him?
Pls.revert.
Regards,
Ravichander
Interest earned on any type of NRO bank account is subjected to tax deducted at source. The assessee must declare interest income on US tax return and file form 1116 to claim foreign tax credit.
Dear Ashish,
Thanks for your prompt feedback & for the valuable information provided.
Best Regards,
Ravichander
Karia Overseas
Ahmedabad
CA
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