Ask Experts Questions for FREE Help !
Ask

Is Annuity income of US Citizen taxable in India under USA-India DTAA ?

Asked May 24, 2010, 08:14 AM — 1 Answer
1. I am PIO and a USA Citizen( age 72) and live in India with tax status changed from Resident but not ordinarily Resident to Resident and ordinarily Resident( Exceeding the 183 days etc etc).
2. I have to file Indian Income Tax return by July 31, 2010.
3. I receive Social Secuirty Income from USA( exempt from Double Taxation)-Taxed in USA. And have to simply state it on the IIT Return
4. I receive rental and Bank Interest Income in India( Taxed in India AND USA)
5. As a retired teacher in USA, I receive Tax Deferred Annuity Income from a not-for-profit USA organsation(TIAA-CREF). Taxed in USA.
Question: It seems I am required to show this annuity income in my Indian Income Tax Return but will it be taxed a second time by India ? Is not annuity income also exempt from Double Taxation like Social Security under USA-India DTAA ? What exactly does Article 16( DTAA+Technical Memorandum+IRS+Authority for Advance Rulings+Sec 90 IIT Act+ Indian Tax Court Rulings) say about this ?
etc) say about this ? Indian Tax Slabs are way to high compared to USA.

Search this Thread
Share |
1 Answer
AtlantaTaxExpert's Avatar
AtlantaTaxExpert Posts: 19,866, Reputation: 3723
Senior Tax Expert
  
#2

May 24, 2010, 10:24 AM


Your questions involves Indian tax law.

Sorry, but this forum deals EXCLUSIVELY with U.S. Tax issues
Helpful
Not your question? Ask your question View similar questions
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search

Add your answer here.

Remove Text Formatting
 

Undo
Redo
  
Decrease Size
Increase Size
Bold
Italic
Underline
Align Left
Align Center
Align Right
Ordered List
Unordered List
Decrease Indent
Increase Indent
Insert Email Link
Wrap [QUOTE] tags around selected text
Wrap [CODE] tags around selected text
Wrap [HTML] tags around selected text
Wrap [PHP] tags around selected text
Wrap [YOUTUBE] tags around selected text
Notification Type:



Check out some similar questions!

DTAA with US & India [ 1 Answers ]

My friend was employed in INDIA from 1st April 2008 to 31 Dec 2008. From Jan 2009 he was shifted to parent company in US. From 1st Jan 2009 he is on US company's payroll and getting salary there and are paying all US taxes. Now for India taxation for FY 2008-09 he is resident and ordinary...

Double taxation(india & US), calc of taxable income [ 3 Answers ]

Hi I have moved to India in Dec'08 from US , however I have exceeded no. Of days in India , and I am considered resident in india for tax purpose. As a result I have to go through double taxation. I have some questions - 1. When I was in US , I received bonus in US on Sep'08. However that...

Dtaa india usa [ 1 Answers ]

I am an OCI . Can I buy a life Insurance Policy in India? If yes, can I claim some deduction in my US return for this Life Ins Policy? What are the tax implications?

Income in india but married to us citizen [ 2 Answers ]

I am a US citizen and work in the US. My wife just received her green card in January 2009. She works for IndiaAir and lived mostly in India for 2008. Can I file MFJ and not claim her income in 2008 since she didn't have a green card?

For F-1 Students is whole 'Stipend' income tax exempt under India-Usa Treaty ? [ 2 Answers ]

Hi, I entered USA in the August of 2005 on F-1 Visa. I received a graduate assistantship for one year and later on became a Research Assistant (RA) in my department. Being an RA entitles me to full tuition remission and am paid a stipend of 18K per year. When I filed my taxes previously with...

View more Taxes questions Search