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How do I get credit for US taxes in India?
Mint Chennai
|April 08, 2025
I returned to India for retirement after covid and now qualify as a resident for FY25. Most of my investments are in long-term US stocks. In the past calendar year, I have realized that the capital gains of about $4,000 (around *3.5 lakh) from selling US stocks and earned dividend income of $3,000 (nearly 2.6 lakh).
The US did not withhold tax on capital gains, but 25% was withheld on dividends.
I also earned 50,000 in interest income in India. If I opt for new tax regime in India, how do I claim credit for taxes paid in the US.
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