I am a Canadian resident, working for a US company and posted in India. I still have an Indian passport. I save for my retirement in a 401 K plan in the US. Is that income tax exempt in India? or will it be taxed in India.
2006-07-31 17:45:40 · 2 answers · asked by rowrex 1 in Business & Finance ➔ Taxes ➔ India
Try these links:
www.isleuth.com
www.rocketstockpicks.com
www.slavic401k.com
Good luck! :-)
2006-08-01 14:13:16 · answer #1 · answered by Petro T 3 · 0⤊ 0⤋
I do not know how long you are in India. But if you are non resident or not ordinarily resident, any income earned in USA and received in USA is not taxable in India.
Only resident Indians have to pay the tax on Global income. So if interest or any income accrues to you in USA and deposited in USA or received at a later date in USA, you will not have to pay tax on those income.
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2006-08-02 14:47:24 · answer #2 · answered by q4tax 3 · 0⤊ 0⤋