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-   -   Is Annuity income of US Citizen taxable in India under USA-India DTAA ? (https://www.askmehelpdesk.com/showthread.php?t=472993)

  • May 24, 2010, 08:14 AM
    gilgamesh709
    Is Annuity income of US Citizen taxable in India under USA-India DTAA ?
    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.
  • May 24, 2010, 10:24 AM
    AtlantaTaxExpert
    Your questions involves Indian tax law.

    Sorry, but this forum deals EXCLUSIVELY with U.S. tax issues

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