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Double Taxation Avoidance Agreement - Job in US and business in India
I am an NRI working in the USA on H1B visa. I came to this country in March 2014. I earn my salary from my employment in the USA. In January 2015, I partnered with a friend of mine in India to start a construction business. I have responsible a designated position in the firm and we draw certain amount of monthly salary in India apart from any profits earned in the business.
I would like to understand the tax implications here in the US as well as in India. This is the first time I am involved in earning income in two different countries.
1. What is the scope for DTAA (Double Taxation Avoidance Agreement) to be useful in my case?
2. Is it legal that I am doing a business plus occupying a position in the Indian firm while I am working full time in the US?
Appreciate your response to enlighten me.
Thanks,
Shashi
I would like to understand the tax implications here in the US as well as in India. This is the first time I am involved in earning income in two different countries.
1. What is the scope for DTAA (Double Taxation Avoidance Agreement) to be useful in my case?
2. Is it legal that I am doing a business plus occupying a position in the Indian firm while I am working full time in the US?
Appreciate your response to enlighten me.
Thanks,
Shashi
