Tax on US Stocks India Explained | Vested x Galactic
ฝัง
- เผยแพร่เมื่อ 3 ต.ค. 2024
- Tax on US stocks India Explained. Indian investors are aware of the stock implications on Indian stock market investments, however, when it comes to US investing many are unaware. This is also one of the reasons why many shy away from investing in the US stock market.
In this video, we take you through the process of filing your taxes for US investments. We also cover Vested's comprehensive tax docket that you receive at the end of the financial year to make tax filing easier.
Read our blog for more information on how taxes will work for investors in India when investing in the US
vested.co.in/b...
Next video to watch - Tax implications for Indian Investors in US stock market: • ULTIMATE Guide to TAXE...
-------------------------------------------------------------------------------------------------------
Vested Finance is an online investment platform that enables Indian investors to invest directly in the US stock market. Our newly launched initiative Vested Direct is an innovative fund transfer solution which is an easier, faster and seamless way to transfer funds to your U.S. investing account. It is a first-of-its-kind online cross border fund transfer solution in India.
Features of Vested Direct:
✅ ZERO account opening charges
✅ ZERO balance saving account with SBM Bank India
✅ ZERO fixed fees per transaction
✅ Completely transparent [track transfers at each step]
✅ Faster fund transfers [Transfer your funds within a day
✅ Low-cost [Currency conversion fee is JUST 1.2%]
✅ Upto 5% interest. Credited every month.
✅ Transfer between $50 and $25,000 in a single transaction
✅ Completely online [No more bank visits]
✅ It’s super easy to get started
Open an US brokerage account with Vested Direct: vested.onelink...
-------------------------------------------------------------------------------------------------------
We make regular content about us stock market analysis, how to invest in us stock market directly from India, stock market IPO analysis, us stock exchanges, company analysis, industry analysis and everything related to US investing.
To get regular updates on US stock market content
Subscribe to our TH-cam channel: bit.ly/3zL5SBY
-------------------------------------------------------------------------------------------------------
Connect with Vested Finance:
Facebook: / vestedfinanceco
LinkedIn: / vest. .
Twitter: / vested_finance
-------------------------------------------------------------------------------------------------------
![ผัวเถื่อน - ยูริ โตเกียวมิวสิค [ OFFICIAL MUSIC VIDEO ]](http://i.ytimg.com/vi/P08ORRVDGl8/mqdefault.jpg)
Extraordinarily useful webinar. Just what I looking for and did not get ANYWHERE ELSE! Thank you vested finance and Manan sir. Manan sir is a genius
The video is very informative and I would like to thank you for sharing your expertise.
At the "15 min 36 second" mark of the video you mention about Brokerage charges and taking a deduction for that.
1) Could you please explain what you meant by taking a deduction here?
Vested now charges Brokerage Fee on both buying and selling of US stocks on their platform. My second question is regarding Brokerage Fee charged during buying and the Brokerage fee charged when selling a US stock via Vested.
2) Do we include Brokerage Fee as part of the Cost Basis of the US Stock purchased ?
3) or What can be done in terms of Indian ITR filing with respect to the Brokerage Fee paid for US Stocks when buying or selling?
Investing in crypto is the best way to earn financial freedom.
Without doubt crypto is so money making.
This is the kind of information that we don’t get from most youtubers..
I could invest in Crypto but always got confused by it’s volatility in nature
@@joynerambrose172 that won't bother you if you trade with a professional like Mr Jay Frank.
Count me in, I’m placing my trades with Expert Jay Frank ASAP.
What is effective tax rate mean?
Is it not the slab rate ?
59:26 is core of the issue. What equivalent report of 1042 given by vested? So should both be uploaded for form 67? I doubt you can upload two documents. You referred to there is a way but What is the way you have not explained.
"Thanks for reaching out to *ested!
Please note that reporting in Schedule
FA is based on the accounting year followed by the country in which the asset is held.
This means that in the case of US stocks/ ETFs, it is the Jan to Dec calendar year according to which the accounting will be followed. In Schedule FA, the taxpayer is required to disclose the details of foreign assets etc. held at any time during the Jan to Dec period."
This is exactly what I too am saying.
But the tax reports shared in excel cover Indian financial year and not the US accounting year for which the 1042-S is shared - thus bringing in conflict & inconsistency in values.
I feel that since TDS & Reporting is of a foreign country and only a proof of the same is to presented in India - everything needs to be based on that proof of income and tds.
Any transaction that happens after Dec would automatically included in the next years returns in India. Why confuse the hell out of people and make a mash of everything ?
Pls sir make same video in Hindi language it's too much worthy... thanks 🙏
Dear Vested team, cleartax ia saying ....closing date of accounting year is to be considered for converstion of exchange rate ???
Dear sir can you share a link to get SBI TTBR for 2021 or Reserve Bank exchange rate link
Thanks for the very informative and useful video. It is through watching such videos that I have deciphered the complexities of foreign stock taxation and ITR filing, which I am doing for the first time. Filling these various forms such as Schedules FA, FSI, TR and Form 67 has now become quite simple, once we are able to correlate the data entry boxes in ITR 2 with the tax documents provided by the platform, and doesn’t require a CA. I only wish that the ITR online web app had provided a CSV template for Schedule FA so that we don’t have to laboriously enter each and every transaction.
However, one thing which still leaves me in doubt is whether the transactions in terms of CG or dividends, or interest are to be reported on the US Calendar Year (Jan-Dec) basis or the Indian FY (Apr-Mar) basis. I am presently holding accounts in Vested as well as Indmoney and both these platforms have a different system of providing tax documents. In the case of Vested, Schedules FA, TR and Form 67 are on a CY basis, while CG and FSI are on an FY basis. Indmoney on the other hand provides all its tax documents on an FY basis. However, in both cases, Form 1042-S is provided on a CY basis. I feel the ITD needs to step in and resolve this ambiguity in a very clear cut policy letter and all US stock investment platforms to which we are subscribing should also have a common standard in formulating these tax documents.
Hey did you get any clarity on calendar year and financial year confusion on US stocks reporting and dividends.
@@pratik2998 I had put this query to Indmoney and they replied that Form 67 filled online along with the ITR is to be rendered in accordance with the US Form 1042-S i.e. for the US CY. This is despite the fact that the Form 67 tax document provided by Indmoney is itself on Indian FY basis. On the other hand, I filled up the FSI / TR as per the Indian FY details. Hope this passes muster with the ITD.
@@cooldude.1811 thanks a lot mate
@@cooldude.1811 do you use reddit or something? I wanted to talk to you
Please turn on subtitles for the video
Excellent information 👍
Sir same video Hindi mein bhi banaye it's more worthy
Is the same applicable for RSU’s as well since there is no purchase price applicable
The us stock which I have held in March 2022 has to be reported before 31 March 2022 on itr .please tell me.
Why I didn't get interest.? I have been holding extra cash position in. Vested Finance account.
Whether brokers details are required to furnish in FA schedules?
What can I provide as proof of taxes deducted with Form 67 if I earn a dividend or interest income of less than US $1?
Edit: since Vested is deliberately ignoring : dear investors please do NOT invest via this. Reason is when you die, something called US estate taxes applies which can be as high as 40%. Your lifetime hard work won't reach your kids. Only way out is to invest in something not domiciled in US, which Vested doesn't sell.
Shame on you Galactic advisors for conveniently forgetting to mention estate taxes. No integrity.
Can you elaborate on this "Only way out is to invest in something not domiciled in US, which Vested doesn't sell"?
@@KetanSingh sure, Ketan. If you invest in Ireland domiciled funds or India domiciled funds like Navi or Motilal Oswal, the estate taxes don't apply because the asset is not considered a US asset. Vested does not offer Ireland based funds.
@@DIzok-fs2rd If someone is willing to become a resident of some other country, what would you suggest if we need to trade in US based stocks and ETFs
Hi you should also mention the 60000$ exclusion in estate taxes which is equivalent to ~49lacs(at 81.95 Rs/dollar)
I Don't have a passport nor Social Security number, what should I put in TIN ??
I guess, you may mention your PAN. That's why Manan also suggested.
Do we have to file APR ?
How does taxation work for NRI residing in Gulf Country (Kuwait)? Applicable tax liabilities in USA, India or Kuwait?
Do you trade professionally?
What if a person is funding the vested account from a US bank account, not from an Indian bank account?
Above applies if you are paying taxes in India - no co-relation with source of funds
The second gentleman explaining foreign tax credit and withholding tax, has a staccato way with many fillers. Very distracting and hard to understand
If you trade I FnO you need to file itr3
Taxes make investment so f up. Imagine swing trading every 2 days, the tax math would be crazy
Not unless your total investment account is of 1-2 L 😂 5% tax on every trade