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Tax on world wide income in US. Financial years in US and Financial Year in India differs.?
A US resident alien (Not a green Card holder & not a US Citizen) is having Rental Income and Bank Interest income in India during US Financial Year 2017. Indian Financial Year differs from US. Indian FY. is 1st April 2016 to 31st March 2017 (FY:2016-17). To report Indian Income at US for 2017, one has to go through 2 Indian Financial Years. That is FY:2016-17 & FY: 2017-18. How to show Indian Income & how to claim tax paid paid in India in US FY.2017. Please explain
3 Answers
- Casey YLv 73 years agoFavorite Answer
Hire an accountant, you are out of your depth. Whether you hire them in the US or India...your taxes are probably being done in India and sent back to a US firm...
- troLv 73 years ago
if you are not a business with a different tax year, the US year is the time between Jan. 1 and Dec. 31, you report the income from that time frame
