Remittance of US Income: Is it taxable in India?
Anshul last edited by
I hope you all are doing great. I came back from the US on September 1st 2019 after three long years and I am settled in India now. But, I have a US consultancy company that I formed during my stay in the US. I earn money in USD and it gets credited to my US bank account regularly. I am going to be considered a resident of India as I will be living for more than 182 days in the FY 2019-20.
I have started remitting the money back into my father’s bank account in India. I pay taxes on my income in the US. Do I have to pay taxes on that income remitted to India as well? I know there is a DTAA that exists between India and the US. I am confused and I seek your opinion on this.
Please let me know. Looking forward to hearing from you.