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U.S.-India Tax Planning: Reporting Issues, Traps to Avoid, Tax Treaties, FTC, FATCA/FBAR Reporting, Passive Income

Recording of a 90-minute premium CLE/CPE video webinar with Q&A

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Conducted on Thursday, October 21, 2021

Recorded event now available

or call 1-800-926-7926

This CLE/CPE course will provide tax counsel and advisers with a thorough and practical guide into the tax reporting requirements and planning opportunities for U.S. taxpayers with earnings or assets in India, as well as India citizens with U.S. tax reporting obligations. The panel will discuss U.S. tax law and treaty provisions designed to avoid or mitigate double taxation, residency and expatriation rules, foreign tax credit, and reporting obligations for those filing returns in both countries.


The U.S. and India have significant economic and social ties resulting in a constant flow of cross-border business transactions and citizens migrating between the two countries. Tax counsel and advisers must navigate challenges from interpreting and enforcing U.S. and India tax rules to avoid adverse tax liability from either country.

The U.S. taxes worldwide income, and not all tax-exempt earnings in India are tax-exempt in the U.S. Earnings from these accounts must be identified and included on the individual tax return. In addition, practitioners must understand the tax treatment of investment accounts unique to India when preparing these returns for clients.

The most critical planning challenge is reconciling the U.S. and India rules governing residence and domicile. U.S. domicile rules differ from India, and an inadvertent failure to meet filing obligations due to a misapplication of domicile rules can be costly. Tax advisers serving clients in the U.S. and India will need to understand the domicile rules to avoid costly taxes and penalties.

Other areas of concern in U.S.-India tax planning include treating passive income and tax considerations for retirement accounts, contributions, and withdrawals. The extensive U.S. tax reporting requirements imposed on taxpayers with U.S. filing obligations are hovering over all these concerns.

There are many complexities in filing individual income tax returns for U.S. residents (residents and green card holders and citizens) who also file India returns. Tax counsel and advisers must understand the nuances of U.S. and India tax returns, applicable tax rates, and methods to maximize the foreign tax credit for double-taxed income.

Listen as our experienced panel provides comprehensive and practical guidance on navigating U.S.-India tax planning and reporting issues.



  1. Identifying taxpayers with filing obligations in the U.S. and India
  2. Domicile and residency rules
  3. Passive and unearned income treatment
  4. U.S. taxation of investment and retirement accounts
  5. Foreign tax credit
  6. FATCA and FBAR reporting


The panel will review these and other key issues:

  • Filing obligations in the U.S. and India for certain taxpayers
  • Taxable income, reportable accounts, and FBAR/FATCA filings
  • U.S. reporting requirements of India-sourced investments
  • Foreign tax credit considering the fiscal year ITR
  • Key risks and challenges of passive/unearned income in cross-border situations
  • U.S. reporting requirements of India-sourced investments


Gupta, Sanjay
Sanjay Gupta, CPA, FCA

Managing Partner
Sanjay Gupta & Associates

Mr. Gupta is a certified public accountant with more than 30 years of experience in public accounting. He specializes...  |  Read More

Patel, Parag
Parag P. Patel, Esq.

Patel Law Offices

Mr. Patel’s practice concentrates on tax, international tax planning, estate planning, and elder law. His focus...  |  Read More

Naumoski, Darko
Darko Naumoski, CPA

WilkinGuttenplan CPAs & Advisors

Mr. Naumoski, joined the firm in 2017, specializes in international taxation and planning strategies....  |  Read More

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