Critic
Kurra Bewarse Username: Critic
Post Number: 1198 Registered: 03-2004 Posted From: 107.131.41.254
Rating: N/A Votes: 0 | Posted on Wednesday, March 02, 2016 - 12:27 pm: | |
Stewie:
The whole concept of FBAR - Foreign Banking Account Report is to declare how much you have in your foreign banks especially if you are are a resident in US ( Students not required) and have funds more than equivalent to 10 K USD. TDS is automatically deducted in India, hence tax wont be a factor at all or will be very less in US. Major benefit is peace of mind and if IRS finds it for you then you will end up paying lot of penalty. Becareful with some auditors who will scare you till death for FBARs to rip off extra fees.
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