As per Fbar , we have to declare highest account value for calender year.When asked to my mutual fund house they gave me account statement which has account value on monthly basis and not daily basis.
So in this scenario how to find out maximum account value
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How to calculate FBAR amount for mutual fund investment in India
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Tax filing Indian income and FBAR
I am hoping someone with a similar case could give some opinion as I am totally in panic. I have been filing taxes in the U.S. since 2007. I have had resident savings accounts in India with my parents and the income taxes were always filed in India. We have copies of the tax returns. However, by mistake... -
R2I and Surrendered GC in 2017 - do i need to file FBAR for prior year
Hi,
I had a GC for 2 years and retured to India in July 2016.
I surrendered my GC in march 2017 by filing the i407.
1 - whats is the date till which i am considered a permanent resident of US - is it July 2016 (my last day in US) or March 2017 ( when i filed i407)... -
FBAR question
Last year I transferred more than $10K to my NRE account and some of it is still sitting in my bank account in India. My questions is not about file FBAR or not. I think I already figured out that I am suppose to file FBAR. But I just wanted to understand what is the downside of filing for the first... -
Tax filing for non resident alien and Fbar
Hi forum members,
Somebody please help me.
I am on L2 EAD and travelled to India on Dec 2015. I went for my delivery and my initial plan was to return by July 2016.
I was working at that time as an employee on W2. My employer changed my status to 1099 misc and I continued... -
USA Income Tax: Reporting Indian Bank Accounts and Foreign interest income
Hi all,
This is for a tax-resident after staying in the US for 5 years as an F1. I apparently need to report bank accounts for amounts exceeding $10k under the FBAR regulation. Is one is exempt from reporting any of these accounts?:
1) Primary joint account holder for a... -
To file an FBAR or not to?
Hello,
I recently filed my taxes and during the filing I told the tax consultant that I have a mortgage in India and I've been paying xxx amount per month as an installment for it. She has mentioned that in my filing and asked me to file an FBAR for claiming the assets that I own in India.... -
HIRE Act’s Foreign Account Tax Compliance Provisions
Do we need to file FATCA form (HIRE Foreign Account Tax Compliance: Reporting Requirements) also in addition to FBAR for Indian NRI accounts
Are there any issues of not filling FATCA forms after filing FBAR? . I have filed FBAR and payed tax for interest accrued in my NRI account in US for last...
