Dear Experts,
I have US salary income of around Rs. 150000 for FY 2012-2013 and my
employer has deducted federal tax, medicare tax, social security tax and
state tax accordingly. Also, I do have Salary Income in India for which my
employer has deducted tax and issued Form 16. As per recent amendment, one has to disclose foreign income and assets and tax paid in the sheets FSI and TR_FA. But when I fill in US Salary Income in FSI sheet of ITR 2, it states that the declared income should be included in PART B-TI sheet.
My Questions are
i) Where should I declare this US salary income in PART B-TI sheet? Is it
correct to add my US Salary Income to my Indian Salary mentioned in Form 16
by my employer and show it as Salary under Schedule-S? If so, salary mentioned in Sch. S in this sheet would be different than that reported in
my Form 16 and would that be a problem?
ii) Do I need to have any document proof if I disclose US Salary income?
iii) Also, when I show US tax amount in TR_FA sheet, can I include Medicare
tax and Social Security tax along with Federal and State Tax?
iv) In case I don't disclose this US salary income as the tax deducted in US
is more than what I would pay if I had to show that income in India, would
that cause any problems later on?
Any advise/pointers on this would be really helpful.
Regards
I have US salary income of around Rs. 150000 for FY 2012-2013 and my
employer has deducted federal tax, medicare tax, social security tax and
state tax accordingly. Also, I do have Salary Income in India for which my
employer has deducted tax and issued Form 16. As per recent amendment, one has to disclose foreign income and assets and tax paid in the sheets FSI and TR_FA. But when I fill in US Salary Income in FSI sheet of ITR 2, it states that the declared income should be included in PART B-TI sheet.
My Questions are
i) Where should I declare this US salary income in PART B-TI sheet? Is it
correct to add my US Salary Income to my Indian Salary mentioned in Form 16
by my employer and show it as Salary under Schedule-S? If so, salary mentioned in Sch. S in this sheet would be different than that reported in
my Form 16 and would that be a problem?
ii) Do I need to have any document proof if I disclose US Salary income?
iii) Also, when I show US tax amount in TR_FA sheet, can I include Medicare
tax and Social Security tax along with Federal and State Tax?
iv) In case I don't disclose this US salary income as the tax deducted in US
is more than what I would pay if I had to show that income in India, would
that cause any problems later on?
Any advise/pointers on this would be really helpful.
Regards