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Get your taxes done using TurboTax
Yes, you need to add this income and offer it in your US tax return. You can claim a tax credit of the 30.90% TDS that your bank has deducted back in India. Do not miss offering this income in your US tax return.
Also note following points:
- Check if you are liable to do FBAR and Form 8938 reporting if your foreign assets are above the specified thresholds.
- Make a FATCA declaration and inform your US person status to bank in India
Thanks!
‎June 5, 2019
10:33 PM