-Name withheld on request
No, a resident Indian earning rental income from a property located in the US cannot directly claim depreciation and other deductions allowed under US tax laws to compute the net rental income when offering it for tax in India.
While income should be reported in India, the taxation of such income falls under the head "income from house property", and specific provisions under the Indian Income Tax Act, 1961, must be adhered to. Indian tax authorities do not allow direct deductions for United States (US)-specific tax reliefs, such as depreciation, when calculating the taxable income in India.
Bu hikaye Mint Ahmedabad dergisinin December 30, 2024 sayısından alınmıştır.
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Bu hikaye Mint Ahmedabad dergisinin December 30, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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