FBAR - Why it is necessary to File in Santa Cruz, California For Sale

GLOBAL INCOME OF US PERSONS BEING TAXED IN USA
? Foreign Bank and Financial Accounts (FBAR)
? Internal Revenue Code (IRC) requires a US citizen or resident of USA to declare and pay income tax on worldwide income irrespective of his place of residence.
? Of course taxpayers having income in India can choose between the IRC and the regulations of India USA Double Tax Treaty for income arising in India and opt to be governed by the provisions of either as is found more beneficial to him, subject to conditions as may be applicable.
? That means, you have to report rental income earned in India, Interest income and any other income earned in the reporting period.
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