Mr. Rajesh Dhruva will discuss current-status of tax filing requirements in India and USA. The presentation will include topics such as:
USA TAXATION:
• US Tax Laws for NRIs who have income and financial assets in India
• Options are still available to those NRIs who have not yet declared Indian income & assets to IRS
• How to opt for Streamlined Domestic Offshore Procedures (SDOP)
• Detail procedure and penalties (minimal) for SDOP
INDIAN FOREX & TAX LAWS:
• Who is considered NRI
• Can NRI purchase Real property in India
• Can NRIs bring back to US (repatriate) sale proceeds of Real property or Legacies and other funds such as from NRO account
• Can NRIs transfer balances in NRO account to NRE account
• New “Aadhar Card” law and its applicability to NRIs
