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Is India Provident Fund (PF) post 5 years of Service for same company taxable in US?
All,
Looked through all the board and scouted for info however the details I saw were dated.
My understanding is there was renewed taxation treaty signed by India and US sometime in Sept 2015 and hence not sure if the info I have read still applied.
Scenario:
- Worked for an organization for 6 years in India (2010 start to 2015 end)
- Relocated to the US on long term visa (L1) in 2015 end
- Planning to withdraw PF in 2016 (I will be in the US for full year)
Question:
- Does PF need to be declared in the US returns?
- Will I have to pay tax for PF withdrawn in the US? (wont be paying tax in India since it is > 5 years working for the same org in India).
Will appreciate response from the experts.
Thanks
Chintu
Looked through all the board and scouted for info however the details I saw were dated.
My understanding is there was renewed taxation treaty signed by India and US sometime in Sept 2015 and hence not sure if the info I have read still applied.
Scenario:
- Worked for an organization for 6 years in India (2010 start to 2015 end)
- Relocated to the US on long term visa (L1) in 2015 end
- Planning to withdraw PF in 2016 (I will be in the US for full year)
Question:
- Does PF need to be declared in the US returns?
- Will I have to pay tax for PF withdrawn in the US? (wont be paying tax in India since it is > 5 years working for the same org in India).
Will appreciate response from the experts.
Thanks
Chintu
