Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.2 9/12/84; site aero.ARPA Path: utzoo!linus!decvax!tektronix!hplabs!sdcrdcf!trwrb!trwrba!aero!sivan From: sivan@aero.ARPA (Sivan Mahadevan ) Newsgroups: net.nlang.india Subject: Re: Returning Home... Message-ID: <360@aero.ARPA> Date: Thu, 15-Aug-85 12:52:13 EDT Article-I.D.: aero.360 Posted: Thu Aug 15 12:52:13 1985 Date-Received: Mon, 19-Aug-85 22:30:54 EDT References: <922@wanginst.UUCP> Reply-To: sivan@aero.UUCP (Sivan Mahadevan (ISRO)) Distribution: net Organization: The Aerospace Corp., El Segundo, CA Lines: 36 Summary: I dont have usenet access, so my friend Sivan Mahadevan is posting this on net.nlang.india. You can get me on arpanet however, by sending to: Ananth_annapragada%ub-mts%umich-mts.mailnet@mit-multics.arpa Would appreciate any updates on this which the net can cough up....... About the only thing I know anything about from among the points Sridhar raised is with reference to taxes: As an employee of a company in the US, and as a resident or citizen of the USA, all your taxes are payable in the USA and nowhere else. i.e., as a resident of the USA returning to India, your savings which you take into India as dollars to be converted to rupees are totally tax free as far as the Indian Govt. is concerned. There **is** a technicality however, once you settle in India, and deposit your converted dollars as rupees in a bank or as investments somewhere, I believe you become liable to some kind of "Wealth Tax", but then I believe this is payable by anyone in India with a personal worth higher than a threshold. By the same token, any money sent home from here, while you are still here, is totally tax free. By working in installments you can get out of the threshold I was talking about earlier. Apart from these heuristics, the Indian govt. also needs foriegn exchange, and will be happy to let you convert your hard earned savings into rupees without taxing you to boot....! Re the thought of moving your household back to India, under the "returning resident" and "returning technocrats" plans established by the Indian Govt. (Actually, Indira Gandhi), any equipment you may deem necessary for your continuing your work in India may be brought back no_questions_asked. For example, a dentist can take his special adjustable chair etc. Any personal items you have used for two years go through similarly. This includes cars, tv's, vcr's, stereos etc. etc. NOTE: I am basing these remarks on what my friend (a dentist) did a year back. While regulations may have changed since, I am not aware of them. Bye for now....... _Ananth