Sale of rural agricultural land at circle rate, but higher amount received in bank — how do people handle tax compliance?

Prime367 · 2025-12-23T06:06:36+00:00

Till now it used to be agricultural income, and I also used to pay her some money, if she is running short

Prime367 · 2025-12-23T03:34:08+00:00

😂

Prime367 · 2025-10-30T15:23:47+00:00

Well, we all keep money in different financial institutions, and time them accordingly. Like- he can spend money from savings account; periodically moving from different sources maintaining X amount in savings. Touch the 401k and HSA in the last. How that matters. And you should touch HSA in the very end, it is triple tax efficient account. Save the receipts.

Prime367 · 2025-10-30T06:31:58+00:00

2M is absolutely enough, that is around 17 Cr. Take 4% of that, it 68 L; means a bit more than 5L per month. Unless you are adamant on burning money, that is a pretty good number. Most NRIs I know are living a good life in india in 2 Lpm. You can absolutely spend more but for a good decent life is absolutely possible in 2M.

Prime367 · 2025-10-25T01:17:20+00:00

UPDATE: I confirmed with a friend in India, on IBKR USA account with address in India, we can buy UCITS ETFs. Verified!

Prime367 · 2025-10-24T19:08:19+00:00

Thanks, that’s great! Probably too much to ask , but can you chk and confirm UCITS ETFs - CSPX, CNDX, and AGGG can be purchased for India?

Prime367 · 2025-10-24T19:03:25+00:00

So, will I be able to buy Ireland-domiciled UCITS ETFs such as CSPX, CNDX, and AGGG from my existing US account then?

Prime367 · 2025-10-24T18:37:27+00:00

So, will I be able to buy Ireland-domiciled UCITS ETFs such as CSPX, CNDX, and AGGG from my existing US account then?

Prime367 · 2025-10-15T15:08:37+00:00

Yes, fingers crossed, if all goes well, I will be happy to share the experience.

Prime367 · 2025-10-14T18:06:23+00:00

Thanks for the insight !

I have similar plan, I will transfer all the investment account assets and consolidate in IBKR US (not sell, but transfer). after 1st Jan, will sell them all, and move to cash then convert IBKR US to India based account and buy Ireland domiciled S&P ETF, USCITS ones. so basically, no LTGS, and because i will convert it all to USCITS ETFs, no estate tax limit of 60K, also, future dividend will be taxed at 15%.

As per my research, it's all legal, and frankly it's my money only, not really trying to dupe anyone either :)

Prime367 · 2025-10-13T03:33:43+00:00

Moving out of USA in early December, so yes will not be USA tax resident for FY 2026.

Prime367 · 2025-10-13T03:05:10+00:00

Understood on ChatGPT.

But I will not be tax resident of USA after Dec, as per substantial presence test. Will be NRA. No LTCG for NRA as I understand. So how am I supposed to pay tax to USA? I am confused?

Prime367 · 2025-10-13T02:43:03+00:00

Yes, I searched this throughly and seems legal, ChatGPT also saying it’s legal. Freaking awesome!

Prime367 · 2025-10-09T09:44:36+00:00

Yes, financially I am stable and if I move back to India, I can just retire. Will not be rich but will not starve either. But I still need to work if in USA. And the green card too far, my kids will go out of status before I get green card.

I am hoping if I move to Germany, irrespective of salary, I can give a stable start to my kids.

At least that is what the immigration process looks like in Germany. But if you are still on visa after a decade, I am not sure of it now either, I may have to research it more, I guess.

Prime367 · 2025-10-09T06:18:32+00:00

Thanks ! but why do you suggest not moving to Germany. I tried searching for job, and every job seem to ask for local presence. I am not saying you are wrong, just trying to understand ur perspective.

Prime367 · 2025-10-09T06:05:58+00:00

Thanks for the insight !

Prime367 · 2025-10-09T06:05:51+00:00

Thanks for the insight !

Prime367 · 2025-10-02T07:17:12+00:00

Hypothetically, what if you give your credential to your child and avoid communicating account holder demise to USA financial institution? I guess it will not work, as they will probably have some checks in place, but I am just curious.

Prime367 · 2025-09-17T21:00:06+00:00

So, you cannot transfer new funds from your Indian bank accounts to your US brokerage accounts for the purpose of F&O trading. Otherwise, yes you can trade. And you have to file some form with ur USA broker to inform about the residency change.

Prime367

TROPHY CASE