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I am a US citizen beginning to earn rental income on a propert i own in India and going to pay Indian taxes. As I am suppossed to declare all my income, how can I make sure that I am not taxxed twice on the same

2006-10-30 19:20:36 · 2 answers · asked by dot 2 in Business & Finance Taxes India

2 answers

You would use form 1116 to take a credit for taxes paid to India on the rental income. This leaves you in a position of only paying one tax at the highest rate between the two countries.

2006-10-31 00:03:33 · answer #1 · answered by waggy_33 6 · 0 0

If you are in the bottom 45% of wage earners you can keep your money. After that, the more you make the greater the percentage that is taken from you. Someone has to give the lower wage earners education, food, transportation, housing, phone service, health care, and day care. You can't expect those who make poor decisions to be responsible for themselves, can you? Cut Amber some slack. I am sure she is government educated and does not understand the difference between funding police and paying people not to work for 100 weeks. It probably is not her fault that she does not understand the difference between what the federal government provides and what the state provides. She cannot tell the difference between funding programs to teach men in Africa how to wash their penises and funding national, state or local defense. Chuck Schumer does not know the 3 branches of the federal government. Can't expect much more from Amber.

2016-05-22 14:45:35 · answer #2 · answered by Anonymous · 0 0

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