Am from India working for the IT company here and I have been here from 15th Oct 2007 and my leaving date is 31st March 2008... I am on L1 visa...
I would like to know what are the L1 visa taxes applicable, and which forms do I need to submit.Since I satisfy the criteria of less than 183 days presence,what are the claims/refunds I am eligible for..

Thank you
Kevin

If you are paid from an Indian company in Indian rupees, then you are correct. Since you are scheduled to be in the U.S. for LESS than 183 days, you are exempt from all taxes.

Yes, if you are present for less than 183 days in a year and income is paid by a foreign employer and is not paid by the U.S. sources, then it is tax free.

If the wages are paid by an employer established in the U.S. then your income is taxable. For 2007 and 2008, you will file nonresident tax return Form 1040NR or 1040NR-EZ. You will get exemption deduction of $3,400.
2007 return (period from Jan 1 to Dec 31, 2007) is due on April 15, 2008.

Agreed.