I am in India. I want to withdraw my 401k accrued in US. How can I avoid taxes on the same?

Answer 1

many answers. You are citizen of India, or an Nri ? You never clarified. If you are NRI, you have no problem in putting your money in bank and investing. Consult a corporate taxation specialist, before bringing in Money. The above question leads to belief that investing in India, is safer, and more yeild, than investing in United States. I took it to be 401,000 us dollars or
40 lakhs ?

Answer 2

Per the guidelines, you can select an amount and distribute the amount continiously till you are retirement age. i.e say if you are 20 years away from retirement (when u can withdraw the 401k), then you can select an amount and make equal withdrawals of it every year (ay 1000 per month) - so long as you have enough funds to cover the 20 years ( 20K balance)

Answer 3

there is no heading off the tax on the distribution. You ward off the ten% penalty due on your age, yet what you do with the money won't influence the taxes. own presents are no longer tax deductible. EVER. presents to charity are deductible yet in basic terms as much as 50% of your AGI. If that replaced into your in basic terms earnings for the three hundred and sixty 5 days your optimal deduction could be $75k. of direction, giving all of it away leaves you with $0 so it makes lots greater experience to easily pay the taxes on it and keep the stability.

Answer 4

Have you come back to india permanantly or this is only a temp.
if it is permanant residence, then all that is to declare the same in your return and does not contribute to your income. you have to chekc the rules at US on such withdrawal.