Ask Experts Questions for FREE Help !
Ask
    RVC62's Avatar
    RVC62 Posts: 2, Reputation: 1
    New Member
     
    #1

    Oct 23, 2012, 11:37 PM
    Reduced federal withholding tax based on the India US Tax treaty
    I am a citizen and resident of India. I am to receive an amount as beneficiary on an insurance policy from an aunt in the us, who was a US citizen and has passed away. Can I claim reduced federal withholding tax based on the India US Tax treaty? If so under which Article of the treaty?

    Thanking you

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

    Oct 24, 2012, 05:34 AM
    Insurance proceeds are normally NOT taxable to the recipient.
    RVC62's Avatar
    RVC62 Posts: 2, Reputation: 1
    New Member
     
    #3

    Oct 24, 2012, 08:30 PM
    This is probably a deferred tax investment.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #4

    Oct 24, 2012, 09:11 PM
    Maybe, if it is universal or variable life.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

US India Double taxation treaty for C Corporation which is situated in India [ 2 Answers ]

We are VoIP based (Telecom) C Corporation in NY, USA. Our one branch office is situated in India. But the employees hired to work for this company are paid through our wholly indian based group company only. We do pay all the US federal and State Taxes. So kindly tel us if we are liable to any...

Federal tax withholding; W-4 [ 2 Answers ]

I live in Kansas. If my gross paycheck (80 hours) is $1,350, how should I fill out my W-4 form to achieve a federal withholding of $197.00 per pay period?

Russian F-1 Student. Federal Tax Exemption based on the US-Russia Tax Treaty? [ 7 Answers ]

Hello, I'm a Russian graduate student who was in US on an F-1 visa since 2005. In 2005 I had a fellowship, later in 2006 I became a Graduate Student Researcher (research assistant). That paid my tuition and a monthly stipend. SHORT VERSION: For years 2006, 2007 I claimed full refund of...

Federal Withholding [ 14 Answers ]

Hello, I am not resident and not American citizen. I have opened a saving account last month in a Bank in the us and I have signed a copy of W-8. However, I am reading this month my statement and I earned interest but it was reduced by a legend "federal withholding" for about 30%. I am asking why...

Federal Tax - H1B - India - Withholding [ 3 Answers ]

|| Sarvam Krishna Arpanam || Hi, I have moved to Chicago (from India) in December 2008. I would be grateful if someone can give me some insights on the following I think that there is some tax- treaty between US and India. Can someone let me know at what rate will I be charged federal...


View more questions Search