India

{"ftc_utility":"high","fbar_trigger_notes":"US expats in India commonly hold Indian bank accounts (savings, NRE, NRO accounts). Any Indian account where the aggregate balance of all foreign accounts exceeds USD 10,000 at any point during the year triggers FBAR filing (FinCEN 114). NRE accounts are exempt from Indian tax on interest but NRO accounts are not. FATCA reporting applies if thresholds are met.","ftc_utility_reason":"India taxes residents on worldwide income at rates up to 30% plus 4% cess, which frequently equals or exceeds US tax liability. The Foreign Tax Credit is generally more advantageous than the FEIE for US expats in India given high Indian tax rates and the ability to offset US tax dollar-for-dollar against creditable Indian taxes paid.","presence_day_count_notes":"India issues various long-stay visas including employment visas, business visas, and OCI (Overseas Citizen of India) cards. No cap on physical days for most visa categories relevant to expats. The 330-day physical presence test is achievable in India. US citizens should note that India determines tax residency separately - ordinarily resident status triggers global income taxation. An individual is a non-resident in India if present fewer than 182 days in the tax year, or fewer than 60 days in the year and fewer than 365 days in the preceding four years.","typical_qualifying_method":"either","housing_exclusion_available":true,"physical_presence_test_applies":true,"estimated_housing_exclusion_usd":18000,"local_tax_rate_on_earned_income":0.3,"bona_fide_residence_test_applies":true}

{"pension_income":{"notes":"Foreign pension income received by India tax residents is included in total income and taxed at progressive slab rates up to 30% plus surcharge and 4% cess. India residents may claim a standard deduction of INR 75,000 against pension income under the new tax regime.","tax_rate":0.3,"locally_taxed":true},"social_security":{"notes":"US Social Security benefits received by India residents may be taxable in India under Article 20 of the US-India treaty as pension income. The US also retains the right to tax its citizens under the savings clause. No totalization agreement exists between the US and India as of 2026, so dual Social Security contributions can arise for those working across both countries.","locally_taxed":true,"treaty_protection":true},"roth_distributions":{"notes":"India does not recognize the Roth IRA's tax-exempt status. Distributions that represent income (earnings) may be taxable in India at applicable slab rates. India-resident recipients would need to assess treaty position. The savings clause limits treaty benefits for US citizens.","locally_taxed":true},"us_401k_ira_distributions":{"notes":"The US-India tax treaty (1989) covers pension and annuity income. Article 20 provides that pensions and annuities arising in the US and paid to a resident of India may be taxed in India. Distributions from 401(k) and IRA accounts paid to India-resident US citizens or Green Card holders are generally taxable at Indian slab rates up to 30%. Treaty sourcing rules and the savings clause mean most US persons remain subject to US tax regardless of treaty provisions. India may offer a foreign tax credit for US tax paid.","tax_rate":0.3,"locally_taxed":true,"treaty_protection":true}}

{"rate":0.125,"notes":"India taxes capital gains at differentiated rates depending on asset type and holding period. Listed equity and equity mutual funds held over 12 months attract 12.5% LTCG (gains above INR 1.25 lakh exempt); short-term gains on listed equity are taxed at 20%. Other long-term assets are taxed at 12.5% without indexation or 20% with indexation depending on the asset.","details":{"tax_type":"Capital Gains Tax","country_name":"India","country_iso_code":"IND","source_references":["PwC India Tax Summaries","Income Tax Act 1961 as amended by Finance Act 2024"],"last_verified_date":"2026-06-03","general_description":"India applies a schedular capital gains tax system. Rates depend on asset class and whether the gain is short-term (STCG) or long-term (LTCG), determined by holding period thresholds that vary by asset type. Budget 2024 revised rates effective 23 July 2024 - listed equity LTCG rate moved from 10% to 12.5%, STCG on listed equity moved from 15% to 20%. Surcharge on LTCG is capped at 15% for all assets.","corporate_capital_gains":{"rate":0.125,"tax_treatment":"Corporations pay the same LTCG and STCG rates as individuals on most assets, subject to applicable surcharge and cess. Short-term gains on listed equities taxed at 20% plus applicable surcharge and 4% health and education cess."},"individual_capital_gains":{"rate":0.125,"tax_treatment":"Listed equity and equity-oriented mutual funds held over 12 months: 12.5% LTCG on gains exceeding INR 125,000 per year (exemption threshold), with 4% health and education cess. STCG on listed equity: 20% plus cess. Unlisted assets held over 24 months: 12.5% without indexation. Debt mutual funds: taxed at slab rates regardless of holding period (post-April 2023 change). Surcharge capped at 15% on LTCG across all asset classes.","health_education_cess":0.04,"ltcg_other_assets_rate":0.125,"ltcg_listed_equity_rate":0.125,"stcg_listed_equity_rate":0.2,"annual_exemption_listed_equity_inr":125000,"holding_period_listed_equity_months":12,"holding_period_unlisted_assets_months":24}}}

{"notes":"Since April 2020, dividends received by individuals are taxed at their applicable income tax slab rates rather than at a flat rate. The paying company no longer pays Dividend Distribution Tax (DDT). TDS of 10% is deducted at source on dividends exceeding INR 5,000 per year to a resident. For non-residents and foreign companies, TDS is 20% plus applicable surcharge and cess, subject to treaty relief.","rates":[{"rate":0.1,"type":"withholding","notes":"TDS rate for resident individuals on dividends exceeding INR 5,000 per year from domestic companies. Final tax determined at slab rates on filing."},{"rate":0.2,"type":"withholding","notes":"TDS rate for non-residents and foreign companies, plus surcharge and 4% cess, before treaty relief. Many US residents may claim reduced treaty rate."},{"rate":0.3,"type":"progressive","notes":"Top slab rate applicable to resident individuals receiving dividends as part of total income under new tax regime."}]}