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    rkocharlakota's Avatar
    rkocharlakota Posts: 3, Reputation: 1
    New Member
     
    #1

    Nov 25, 2009, 02:08 AM
    Claim home mortgage interest paid to a foreign banker
    Dear Intl Tax Expert and Visa Taxes,

    Thank you very much for your valuable advise. From the above discussion, I understood that, to claim the home mortgage interest paid to a foreign banker, we need to fill a form 1042 and pay 30% of the mortgage interest paid to the foreign banker right?

    Also, is it only 10% for the Indian banker if mortgage paid to a Indian banker?

    Kindly clarify.

    Warm Regards,
    Ramakrishna
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #2

    Nov 27, 2009, 11:25 AM
    I believe that the amount IS 10% for Indian banks under the U.S.-India Tax Treaty.

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