If I am in a 30% bracket in India, and in a 10% bracket in USA, and I file returns in India as a resident , and in USA as a non-resident, than the 20% which I saved on the interest income in USA will be additionally taxed in india or not ??
RE:Interest income received abroad
by Amitabh on Apr 25, 2007 07:17 AM Permalink
If you are an indian resident,you will have to pay tax on income earned anywhere in the world as per Indian rates.But you will get the credit of the tax you pay in the US on the income earned there as per the double taxation avoidance agreement between india and the US or as per the provisions of Sec 91 of income tax Act.
