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Do you really need a plan b?


What kind of business should I do?

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Hey guys.
So my plan is to work a job and save enough funds to open a business in india. However, I'm not quite sure what would run well based on the conditions of India. One of my skill I would say is providing the best customer service because I've been an online seller and all my customers leave happily. So based on my small skill, what kind of business would be beneficial? Just need a general idea.

Dilemma: Special situation - need your thoughts

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Hi All

I found this forum recently and am amazed at the quality of posts around R2i and other topics. Have been reading up for several weeks now, but joined recently to post.

I have a special situation and would greatly appreciate your thoughts around what to do. Sorry for the long post, but its necessary to explain - if you have time to read up.

We live in US -family of 4 - USC / OCI. Two kids - 18 and 11 - both have some special needs. One has intellectual disability, and the younger one has physical disability. Elder one has completed school, and is taking 1 basic course at a time at a local college (to try it out), but its hard for her to cope up.Younger one is in a special ed. class in school.

R2I has been in my mind for a while due to aging parents (I am the only son), but due to kids, it seems difficult due to the facilities provided in US. Wife is also totally against r2i due to kids issues. (I understand that india also has a fair amount of special schools now, given you can pay for it, but haven't explored much).

I am close to retirement and would be getting some pension and also do some trading/investments that should be okay enough for me to retire. Still have to figure out the med insurance part though (likely Obama care until medicare kicks in).

Now this is what I want to do - and want inputs on:
I am thinking to buy an apartment in my city, furnish it and go there to stay during summers (when kids are off school). This will allow my parents (and in-laws) to stay with us and kids. Assuming I will retire and thus will have time to go for that long. Staying in parents house for that long is not feasible since it’s a smaller house, plus I don't want kids to keep shuffling between mine and wife's houses when she visits them. [We both need to be with kids most of the time, esp. with younger one, to manage him. So I either I stay in her house, or she stays in mine, or we keep shuffling together - none is a good option]

Another thought is if we like it there every year, maybe wife gets convinced for our R2I also.

Yes, I know it'll take some expense to buy/setup the house initially, but I feel its worth it.Because my kids don't get to mingle with anyone here at all (no family here), plus grandparents are lonely there too, I think both groups will be happier with this arrangement. (grand parents cannot come to US for long due to health and other reasons).
Plus, I also want the kids to get exposed to indian culture, extended family etc. to whatever extent possible.

Do you think this idea is feasible? Or its more a day-dream and a waste of money? Yes, it'll take money to setup and maintain another place in india, but I can rent that for the 9 months I'm not there.


Please share your thoughts. Thanks.

Selling Indian Mutual Funds and US tax reporting

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Dear Rajesh,

For a US NRI, holding mutual funds under 1 lac INR and have sold them recently, how does one report them on US Taxes?
Do they report it on Form 8621 -PFIC or use the normal Schedule D(Form 8949)

Please advise at your earliest.

Thanks

Kumar

Mutual Funds: NRI - Mutual Funds and US Tax reporting

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Dear Forum Members,

I have a question on reporting Mutual Funds on US Taxes.
For a US NRI, holding mutual funds under 1 lac INR and have sold them recently, how does one report them on US Taxes?

Do they report it on Form 8621 -PFIC or use the normal Schedule D(Form 8949)

Kindly share any information on this topic.

Thanks

Kumar

Indian Plane lost over Bay of Bengal - 22 July 2016

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A Russian made (Antonov 32) twin engined military aircraft (IAF) with 20 passengers, has gone missing on a flight between Chennai and Port Blair (Andaman).
A big search is going on. As well as the discussion "why are india's military aircraft falling out of the skies?"

Antonov-32 : The Indian air force operates more than 100 Antonov-32 aircraft

R2I: Convincing my wife getting harder and harder day by day -Need your thoughts

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Hi,
I have been a silent viewer of this forum and of-course that means I am thinking about R2I. I am sorry for posting a long one, but have been looking for all your thoughts/help.


Here is what my case is, I am trying to be short, crisp, but covering all aspects. I am not ready to move now but I am thinking/planning to move back in 1-2 years, but as it takes planning/decision etc, and thats why I did not feel shy enough to post it here now.


Me, IT, have been in USA for 10 years, on I140, decent salary, can continue here for long.
Spouse, IT, was working in USA for 2-3 years, on H4 EAD now after our twin kids and she took an off for 1.5 years. Appearing for new jobs.


First of all why I want to R2I, did I talk to my wife or not. Yes I did. 2-3 times in last 4-5 years. Each time I talked about it, she was not ready to listen why and what I am thinking to do so when we have the option to stay back.


In our last trip to India, we went for my brother's wedding and during same time my father passed away within 18 hours of we getting him admitted to the hospital. Reason, I don't want to be so detail here, but in nutshell is when I came here to USA, the my in-laws who are in medical profession told me, they(Indian doctors) did they best they could, its just that we did not have time.


Here is what I think about R2I.


1) I want to move back to India, coz (god forbid) if my mother goes through something, I am here, I will live the rest of my life with guilt.Yes, my younger brother is there taking care of her regular hospital visits, but I think I should also take some responsibilities off my brother. I want to spent my mother's dusky days with her, making good memories with she playing with my toddler kids.


2) My Kids are 1 year old now. I think till 5-6 years there will be no problem moving back to India for them. But I want to bring them up in Indian Culture and values. I know that many eyes are questioning on my last line now. I know Kids can get spoilt there in India and here too. But I think which one is more vulnerable. Something done in some country is different from something done and accepted openly and widely in the conutry. Again I may be naive here. please share your thoughts.


3) There was a time I got admitted to ER and then in 5 days I had to undergo a surgery. My wife was 4 months pregnant, and doctor said that someone has to drive me to hospital and back home. My wife did that. Friends came (close friends) over the weekend, stayed for 2 hours, we discussed about hospitals/doctors/procedure/diet etc. Then they left, now its again I and my wife back to busine ss. So that left me with a thought if something goes wrong with me/my wife, how my wife or I would handle the situation with 2 kids?


4) My wife's grandmother is a doctor here, but old, 78 years, has 4 cars, a big bunglow house, widow. But when she comes to my place, she drives her BMW on her own and she mentioned to me how stressful it is. She cooks for herlself, eats, sleeps etc. No company. Not his own children also. I think I cant be like this, I want my retirement to be peaceful and exactly "retiring" as it means, may be having an affordable driver driving a FIAT.


I have shared the above with my wife. So each time I speak to my wife, she gets on flare. I have said its not immediate now, may be 2-3 years, I am just sharing my opinion and making you think what I think. She said why not 8-10 years and went to bedroom to avoid this discussion. My mother said no need to stay in the same city, just be in India, so that we can be couple of hours far, you can have your freedom, your job and everything. But its a NO. We have been to all good places in USA. I said lets use this 2-3 years to see places which you have not seen,
and then also do technical certifications so that we can negotiate more in India. Still No. One of household help from my town home is ready to come to any place in India and stay with us, who will cook, clean, do dishes, take care of kids etc. Still NO.




I think its the experience that gives you happiness, not the possession (copy paste from internet article). Each time I drove a new car, listened to a new music system, or watched my big home theater, I enjoyed it, no doubt, but for very short time, then it became a regular thing. But I still remember how I felt being with my mother to a new place, or how it felt when I surprised my wife with a bday gift or so on.


Long story huh? Need your thoughts. Please.

Help: Paying US issued AMEX Platinum Card in India


Good Dental Cleaning in Chennai

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Hi all,

Back in the US, I used to go for yearly dental cleanings. Over here, I had a bad experience years back and haven't had cleaning done since. Looking for someone who does regular basic cleaning thoroughly without causing too many painful moments. In around Chennai. Appreciate any dentist-who-does-good-cleaning recommendation from forum members. Thanks.

A thread for Husbands who hate it, whatever it is.

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Quote:

Originally Posted by punjabi View Post
There are so many of us patni pratadit patis aka henpecked husbands that we should start a thread and vent our frustrations DBSji can be our leader

"We SHOULD start a ....whatever" must be followed up by some sort of act.
OTOH, a well-pecked specie might wait for the appropriate command to get that done.
I shall help.
Here... feel free to vent your complaints in this thread. Pointedly refer to some un-named member of your family/clan/near-dear/house-mate and describe how (s)he

makes your life deliriously happy, and thus preventing you from exploring other adventures.
makes your life so miserable that you would rather be ______________.
makes you dream about what-might've been, if only ____________________.

etc..

A simple diversion....before you vent away:


How do people detect that you are an NRI?

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When I am visiting India, I noticed that often others (people not known to me by anyway e.g. in shops) can detect that I'm from overseas. :e

I don't know exactly how they pick up the clues (even when not speaking in English and kids are not with me).

Did it happen to you guys? If yes, what traits of yours are giveaway clues for revealing NRI identities?

Stocks: Resident OCI restrictions in Indian stock market trading

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Hi Rajesh,

I have been resident in India for more than six years and am an OCI card holder. Do any restrictions apply to me for trading the Indian stock markets?

Thanks a lot for your help.

Opinion: Need advice on investments in the US

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Hi Friends,
I have saved around 100K in the US and returned to India last year.I will need the money in 3-4 years when my son goes to the college there.I need advise from the financial experts to suggest me how do I make most of my saved money.In other words, how do I keep this money invested in the US and get the best returns?

Is it possible to park the money and invest in USA while staying in India?


Appreciate your help and thanks for your valuable time.

Tax exemption in US for tax paid in India for US dividends

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I searched this forum but did not get a clear picture. Here is my question

I get around $10,000 annually as dividend from US investments both taxable accounts as well as IRAs, Roth IRA etc. For these I have to pay tax in India at the rate of 30%. I was wondering if I could transfer from Traditional IRA to Roth IRA the exact amount which will generate a US tax equal to the tax I pay in India and claim exemption for tax already paid in India.

Here is an example
Dividends = $10,000
Tax in India = $3000
Transfer from Traditional IRA to Roth (assuming 15% US tax) = $20,000.
Claim tax exemption in US for tax paid in India

Deens academy, Gopalan International, Chrysalis High schools review

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Anyone who R2I'd to bangalore have first hand experience of Deens academy whitefield, Gopalan International or Chrysalis High marathahalli? If so, can you please share your thoughts? I am especially looking at following information:

1) Are teachers used to having NRI kids in the school?
2) general sanity and security?
3) quality of education.

I would really appreciate if someone who has experience takes a few minutes to post their review.

Thanks,
Prashanth

Tax efficient asset withdrawls

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Hello everyone,

I will be returning to India from US (H1B status). I couldn't find a consolidated tax table or text that would explain taxes charged in US and India for various situations, something similar to what I am trying to show below in #1 and #2. Please feel free to let me know if it already exists.

I have following specific assets (in total 500k, all figures below in USD) and I was planning to take about 20k out every year starting next year (adjusted for inflation, e.g. 20k first year, 21k next year etc) till the money lasted.

Assets:
200k in rollover IRA
100k in ROTH IRA
200k in taxable brokerage

I am trying to figure out best strategy that would minimize the combined US and India tax over the years and have few questions about it:

1) After NROR status expires and before retirement age, how do US and India taxes work? Is following csv like table accurate?

[Type of account, type of withdrawal, US taxes, India taxes]
Traditional IRA, rollover (to ROTH), Regular taxes on entire amount, Regular taxes minus US tax credit
Traditional IRA, withdrawal, Regular taxes and penalty on entire amount, Regular taxes minus US tax credit for taxes only (not for penalties)
ROTH IRA, withdraw principal, No taxes, (hopefully?) No taxes
ROTH IRA, withdraw earnings, Regular taxes and penalty, Regular taxes minus US tax credit for taxes only (not for penalties)
Taxable brokerage, regular withdrawal, Regular taxes, Regular taxes minus US tax credit

2) After NROR status expires and after retirement age, how do US and India taxes work? Is following csv table accurate?

Type of account, type of withdrawal, US taxes, India taxes
Traditional IRA, rollover (to ROTH), Regular taxes on entire amount, Regular taxes minus US tax credit
Traditional IRA, withdrawal, Regular taxes on entire amount, Regular taxes minus US tax credit
ROTH IRA, withdrawal, No taxes, (hopefully?) No taxes
Taxable brokerage, regular withdrawal, Regular taxes, Regular taxes minus US tax credit


3) I am logically against the option of taking all money out and putting it in Indian stock and bond market since it means I will lose a good opportunity on diversifying in a more stable financial market. Also I already have some investments in Indian market (<100k). So if you want to suggest me that option, please justify it.

4) How does the tax rates and withholding work:
4a) Are long term capital gain rate and dividend tax rates similar to 1040 for 1040NR?
4b) Do the brokerage firms withhold anything at source for taxable accounts? Do the custodian firms withhold anything at source for IRA/ROTH accounts?

5) Should I do anything special during NROR status? e.g. convert more from rollover IRA to ROTH IRA...or takeout more money during NROR...

6) Any general comments?

Failed Attempt to R2I.. Second try soon!!!

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I thought I was the only one who had this weird desire to move back to my home land.
I moved to UK 2005 after marriage. Husband came to UK for studies and got job. We both are average income class but as you know but we earn better as compare to what we can make in India.
My Story:
Since I came UK I always knew I wanted to go back India as I never had a life here and I missed everything back home. Got job, worked hard, more materialistic things in life than real life..husband more showoff..burried me in loan as well as himself. I wanted to quit job to be with my son but as I had too much on I wasn’t able to. Worked for 5 yrs full time then part time another 2 yrs. Many things happened during this period. First I was financially ruined. My naïve trust taught me good lesson. Husband promised to start life again with his new business in U K, supported him till I lost every single penny and borrowed from parents..all failed. During same period husband’s brother passed away of accident back home. He was jobless as stopped his loss business, he went India for few months..when I got to know about his brother..i borrowed money from my family to buy tickets and visited them..his brother was in bad state but due to work commitment I had to return uk with my son. I was the only part time working member so had no option. Husband came back after all rituals…after 10 months of this incident his father passed away. Hubby was working but took long break to see his father..i was heavily pregnant but I didn’t wanted to let my husband hold back for me as it wasn’t right nor I had that thought. I stayed back with my son on my own with no help at all. I was at the last month of pregnancy. Long story short..he came back once again after the rituals and luckily I didn’t deliver, his mum who was now on her own came to stay with us..in short, his mum.. very smart and lazy character. I knew and saw with my own eyes she was very mean to her other son and her husband but loved my husband a lot as she thinks my husband is the most talented person ever..Rubbish!!! Now since she came back my husband had grudge that she was mean to both deceased member of the family so they had fight everyday. I was in my own depression as I had too much to take on.. with new arrival I had his mum who didn’t help me at all. I was now working for more people. So just after 1 week of delivery I started house chores with no help at all. Things became bad between me and my mother in law but I never fought with her but kept my silence and ignored her all the time. I went to the stage that I didn’t even let her touch my daughter as I thought she is better to hold my daughter when I work but never bothered to ask me to be with my daughter & she helping with chores. Showing off is the policy of this family. May be I approach was wrong but still feel I didn’t do wrong. I had seen this lady being extremely mean to people and me in the past.
Now we planned to move India for good..his mum went back in 6 months and my husband followed her in few days. I was again left on my own now with 2 kids. 2 months I stayed with kids in a house with an infant and 7 yrs. old. My husband took lead as he was getting our house renovated in India. Now time was up as we already rented my property in UK so he came back and we had to live at his friend’s house for exactly 12 days. During this period I saw a weird behaviour pattern in my husband. He was going nightout to see his friends, returning at 5am etc. When I went back to India with kids..house was a construction site. I had to live with my kids at my sis tiny house and sleep on the floor with no enough space to even move. It was annoying to see my kids and my stage,. Husband visited us in afternoon almost everyday. Later when my house was ready I moved to my own home. I saw my husband not at home at night..came home mornings afternoons. Later after all the fights between us I was suggested by my sis that he isn’t doing something right. One night I saw my husband’s phone, I see his msgs ‘LUV U’ to a number..weirdly this number when dialled was connecting to one of my friend I met few months ago..she wasn’t my close friend but just a known friend. The time I saw this message my voice went down. It was a shock for me. I confronted him but he locked his other phone and went in toilet..he obviously deleted all messages. I was angry but he convinced me saying that it is a technical error that its connected to your friend. It was for my client..just a cheerup message. I wasn’t convinced by heart though.Later I phoned one of the his old school friend, when I met him he told me , your husband goes to ladies bar, he had relationship in UK with one of his friend’s wife and he is in touch with your friend from whom he takes information what you say about him and his mum and later he batters you at home. I was shocked to know. All my Trust was shattered. I thought I did the greatest mistake of my life to move back.
I had checked with his other friend with whom we stayed for 12 days before returning India. This friend also confirmed same things. He also confirmed your husband is a very bad man.. how come you not know??? I was shattered at this point.
Later, I planned to leave him. Again as I wanted to go back uk I wanted his support to move again. So with all my own saving I returned uk. My husband in uk was still busy gambling online and losing money while I go to job. He too worked but was wasting the property money we just sold, which he never invested to buy (be invested to renovate). Part of this cash was used to buy smaller house in India, Registered this on his and his mum’s name. I never got my share of profit, he repaid his mum’s money by giving her share as he splashed all her money in ladies bar and partying in India. here is the story..married a moron. I never managed to prove all allegations against him as his friends turned their back side after doing their job. I am in a delimma, who is right, him or they???

Anyways, to my understanding, both aren’t. My husband if not guilty for actually having relation, he spoiled all the fun of India, made losses, cheated me, hurt me, hit me. Even Indian police didn’t take any action to my complaint.

Current state:

I got a very lucrative job, I am very confident with my attitude. I have managed to come out of my depression. I am happy with my kids but I do not consider him as my family now. I don’t think I can ever..he lost it. In UK he behaved same for 1 yr of returning, it was when I called police and he was behind bar, he realised & since then he never hit me. I wish this was done back then. He would have realised what he is worth.
Long story short, we are now again planning to move back but I won’t until I see my hubby well behaved and earning enough for our life style. He isn’t that disrespectful person now (may be worried of UK law- Well done!!). He is planning to move to start some business while I stay here and work until my son completes his schooling, which will be 5 yrs. Now my Dilemma is, what is going to happen in this 5yrs, I already hate this man, will he not repeat same behaviour, will he fail again? But the good part is I won’t give him any penny this time. It should be his or anybodys but not my.

Guys, will you help me suggest, what I need to do? I do not want to stop him if is likely to progress doing good in this life also I don’t want to stay in UK and die as I don’t have social life, no friends just work like Alien and home. I hate this life. There is no Fun. I for sure want my son to complete his schooling here and college in India while my daughter will do schooling in India and college in UK when she turns 18yrs.

This is a big risk for me. For security I think of buying a separate house for myself once my husband returns me my profit share so if anything goes wrong I will just move to own house. I don’t want to stay at my mum’s or reply on anybody. Just to let you know I don’t like people feel sorry for me. I am happy I learned good lesson in life and My GOD had made me capable for getting a good earning job while my husband is being fired from all his work place. My life is for my kids. I will work hard for my kids but I equally want to be with my friends, social life, my parents, siblings, In short I am ready to work hard but want some enjoyment in my life. I do not care if my husband is with me or not as he is non- existence for me now. Not in heart..not in thought.
I don’t want fail second time with this return but just want to be Independent so ai earning my own bread and butter & have my own house where I can stay in case of crisis. I may sound stupid but I am tired here, since marriage my life is boring. I want to be happy and fun loving person as I was before marriage. I want to start working for poor, under privileged kids and help stray and other animals to be happy in the world. I want my kids to see Real India & learn life is not easy but we have to be happy ad try to keep others happy and not to be sad of any difficult phase of your life. Move ON…!!!
Lastly I am not a great writer. Writing as I picture all incidences in my life. Sorry about it.

NJ to Bangalore - help with shipping few boxes

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Anyone shipping from east coast to Bangalore in Aug? We have some left over stuff that didn't fit in our container about 5 boxes and a Kid's bike that we want to ship to Bangalore. Boxes will have books, photos and some decorative stuff. We can pay per box and can be present for customs clearance. Please let me know. Thanks in advance!

Computer Consulting Business?

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Hello.
So through my earlier post about my dilemma, I assume some of you people know that I wanted to major in business admin. Well, recently, I came upon the idea of a computer Consulting Business. This came to me simply because I've always been the person my family would come to when they needed help understanding or technology or simply fixing some computer error. I was wanting to get insight from my fellow Indian members about the idea of such a business. What would be my approach to get into this business and what's the scope for it in India? Now, I don't plan to get any specific degree related to computers but if needed, I can do it. Just need some advice.
Thank you for your time.

Is JDS fueling the current Kalasa-Banduri agitation?

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North Karnataka( especially Dharwad, Gadag, Belgaum) is burning from Jul 27.

The reservoir project at Kalasa and Banduri is doomed since its inception due to so many technicalities.

Mandovi river in Goa is its lifeline. While Nargund/Navalgund areas in KA do not get basic drinking water.

I feel sane headed people can negotiate the crisis and solve this problem without hurting both sides but all political parties have misused this to create animosity between KA and Goa.

Now JDS (Headed by HDD and HDK) has unleashed the current havoc in terms of riot,loot, and police brutality. When will political parties stop exploiting basic need like drinking water?
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