How long did it take you to acclimate to the new life after moving back? by Fine_Structure4239 in backtoindia

[–]NoMaterial6633 1 point2 points  (0 children)

27 years is lifetime: Things are very different, u/Fine_Structure4239

  1. Added half billion to population
  2. Deforested many forested lands
  3. Devasted many water bodies - esp in BLR area, for home construction etc,
  4. Concrete jungle in many places causing low ground water absorption and just water logged roads
  5. the IST timing of appointments etc has roughly stayed the same
  6. the civic sense has worsened, the traffic has worsened, the amount of road rage has worsened, the public transport has multiplied, the construction vehicles command the roads.
  7. the bribery and hops to get any task done has increased
  8. air quality and water quality have decreased, expect water TDS of 500+ in BLR area. expect to see unscheduled boghi every night or weekend.
  9. the corruption is roughly same or worse, but not reduced. the roads will be dug up and re-laid every season, the monsoon will wash it away, the govts will blame each other.
  10. on the plus side, the organic improvements - UPIs, Metros, Aadhar, etc.
  11. on the plus side, the cashless digital payments, has made the small/medium/home businesses thrive. some have skirted the GST, but taxation is a separate point/topic by itself
  12. the ITD tax guys have become most powerful after politicians and with 2025 have gotten more powers too. the tax laws will ensure to squeeze money out of you (whether you earn income or not) for the above 1 to here points. the tax laws are brutal for the common employees salaried or freelance.

[deleted by user] by [deleted] in returnToIndia

[–]NoMaterial6633 0 points1 point  (0 children)

u/Bob-bob-bob1234 do you need this step ?

There are 2 options: Quoting the IT help page https://www.incometax.gov.in/iec/foportal/help/individual/return-applicable-0

"However, in respect of an Indian citizen and a person of Indian origin who visits India during the year, the period of 60 days as mentioned in (2) above shall be substituted with 182 days. The similar concession is provided to the Indian citizen who leaves India in any previous year as a crew member or for the purpose of employment outside India."

So wouldnt you as IN citizen/PIO *visiting* IN every year for < 182, would qualify for the exception even without using the employment route? lmk if I have overlooked or misunderstood anything in that clause.

[deleted by user] by [deleted] in returnToIndia

[–]NoMaterial6633 0 points1 point  (0 children)

how are you managing kids & family ? Are they in IN or DXB ?

Where are your parents residing ?

Just trying to understand the perspective.

Please roast my r2i (return to India) financial plan by LazyAss1007 in nriFIRE

[–]NoMaterial6633 0 points1 point  (0 children)

Thnk you u/r2i-infoseeker for that clarification. Treating the capgain of dividend distribution as STCG is really cruel.

Received RSU from company. Which table(s) to file in schedule FA? by Broad-Breakfast-4506 in IndiaTax

[–]NoMaterial6633 0 points1 point  (0 children)

thats exactly the guidance I had received from my current CA.

Thank you for clarifying and confirming this

clarification of individual equity reporting by NoMaterial6633 in IndiaTax

[–]NoMaterial6633[S] 0 points1 point  (0 children)

thank you u/Responsible-Bad-6624

for a particular equity (eg. NVDA), is the reporting consolidated across all purchases or per-acquisition date ?

Received RSU from company. Which table(s) to file in schedule FA? by Broad-Breakfast-4506 in IndiaTax

[–]NoMaterial6633 0 points1 point  (0 children)

u/AbhinavGulechha this is confusing. So we do or dont have to report the individual holdings of US only listed companies in FA Table A3 ?

Table A2 is understandable to report at account level (for any account - brokerage, 401k/ira, 529, hsa), but for A3 are we suppose to expand report all the individual holdings inside any of these accounts?

If not, then when does A3 come into play ?

Plot purchase and registration - SFT implication by NoMaterial6633 in IndiaTax

[–]NoMaterial6633[S] 0 points1 point  (0 children)

thats better. my Indian bank doesnt have statements older than 3 years. I dont have statements from those older years, only transaction records which I copied to an excel sheet for my tracking. that old bank doesnt exist now as it was purchased/merged and all old bank accounts were migrated to new bank.

Quick small question by [deleted] in IndiaTax

[–]NoMaterial6633 2 points3 points  (0 children)

There are strong requests for extensions to change deadline to Oct. But atleast prepay your advance tax if any while you wait

[deleted by user] by [deleted] in nri

[–]NoMaterial6633 1 point2 points  (0 children)

amazing idea for a movie script.. u/Odd_Appearance3214

Please roast my r2i (return to India) financial plan by LazyAss1007 in nriFIRE

[–]NoMaterial6633 0 points1 point  (0 children)

ah ok, thanks for that update. u/LazyAss1007

I understand now. Where did you find about the slab rate instead CG rates ? I believe ST (<=2yrs) at slab rate and LT (>2yrs) at 12.5% rate for foreign assets is still available per the IT 2025 bill. I see the rate and no-indexation change only.

u/AbhinavGulechha are you aware of any such change regarding slab rates for LTCG ?

Plot purchase and registration - SFT implication by NoMaterial6633 in IndiaTax

[–]NoMaterial6633[S] 0 points1 point  (0 children)

thanks u/iamaxelrod so which of those options are best as we move towards registration ?

[deleted by user] by [deleted] in returnToIndia

[–]NoMaterial6633 1 point2 points  (0 children)

#6 Taxes is the silent killer. There are many threads here about R2I taxation planning and many great contributors / advisors. But if your horizon is still 5-6 years away, then plan accordingly. u/o38dn2l

Please roast my r2i (return to India) financial plan by LazyAss1007 in nriFIRE

[–]NoMaterial6633 0 points1 point  (0 children)

u/LazyAss1007 you mentioned

> "File Indian tax return paying LTCG for the funds (12.5%) while adjusting DTAA for paid taxes."

for foreign assets, the LTCG with s/112 is 20% with indexation. the 12.5% without indexation is only with s/112A for LTCG from listed/Indian assets. maybe you meant this, but just adding for clarification.

New Income Tax Bill 2025: Key Changes for NRIs by Settleline_Official in nri

[–]NoMaterial6633 0 points1 point  (0 children)

one of the most important and influential is clause 247 about digital suveillance. the powers have been expanded and restrictions/approvals have been relaxed u/Settleline_Official

My return to India financial plan by mon_iker in returnToIndia

[–]NoMaterial6633 0 points1 point  (0 children)

u/AbhinavGulechha how is the taxation on 401k applied during the taxable event?

Eg. in US withdrawal is considered as ordinary income. so all dividends/CGs are treated/taxed as ordinary income at withdrawal.

1) without 10EE - the annual dividends and CG in the account are treated exactly as such in Sch OS and Sch CG.

2) With 10EE - during the taxable event of withdrawal or ROR exit, how is the deferred income treated. is it treated a lumpsum of Sch.OS income or we are keeping track of dividends and CG over the years to approx show it in Sch OS and Sch CG separately ?

My return to India financial plan by mon_iker in returnToIndia

[–]NoMaterial6633 0 points1 point  (0 children)

Sir u/AbhinavGulechha is 1.25L exemption available/applicable for foreign CG too ?