NRI FD's Taxes I was wondering how taxes would be calculated if i had a Non Resident Indian Fixed deposit, in india. This will be a USD Fixed Deposit from my savings from the US.
1. Will i need to pay taxes on these deposits in my US tax returns?
2. If my bank in india charges me Tax Deductions at Source (TDS) for these deposits? Do i still need to pay taxes in the US? or will i just have to declare these accounts and show TDS details.
What documentation will be needed at the end of the year when i'm doing taxes for this?
Thanks in advance.. |