pk
Level 15
Level 15

Get your taxes done using TurboTax

@confusedabd , assuming that you are A US person (  citizen / GreenCarxd / Resident for Tax Purposes ),

 

(a) for interest earnings you enter  the details  just as of you have had a 1099-INT -- this is foreign source income, for purposes of US return.  Any taxes  levied/paid  to India on this is eligible  for Foreign Tax Credit / deduction .  Note that there is safe harbor amount  ( US$300 per filer i.e. US$600 for a joint return ) for foreign taxes paid  that requires nil form 1116.

(b) On pension  distribution  from sources in India , the tax treatment in the USA depends on the source of the income --- so please tell  more about this .  This is addressed in the US-India  Tax Treaty.

 

I will circle back once I hear from  you .

 

Namaste ji.

pk