How to calculate your tax liability and find best tax regime for yourself?
Let's go through the steps involved in calculations:
- Visit https://myitreturn.com/income-tax-calculator-2021 to open tax calculator
- Fill in your basic details and click on calculate
- Post this you will be able to see your tax liability as per both the tax regimes. you will also get remarks on the best tax regime suitable as per your income and deductions.
Invest in US Stocks and ETFs from India
Did you know that you can now invest in US stocks like Tesla, Google, Amazon, and Netflix from India? You can in fact do that with the same ease as investing in Indian stocks.
We have partnered with Winvesta to bring you unrestricted access to 3000+ US stocks and ETFs. For a limited time, get $10 bonus when you fund your account!
Why should I invest globally?
We are glad you asked. Consider this
- Top global brands are listed in the US. Think Amazon, Google, Facebook, Apple, Zoom, and Microsoft - the brands you consume every day, yet cannot participate in their growth through Indian markets.
- Stocks in developed markets are more stable. They tend to have better corporate governance and lower information asymmetry.
- You are spending globally. Whether it's international travel, education, or spending on products like smartphones, tablets, or video subscriptions - many of your expenses are in USD, while your savings are in INR.
Investing overseas thus brings new opportunities, globalizes your portfolio, diversifies your risk, and protects you against exchange rate fluctuations.
What about the regulations and compliance?
Let's consider the three main aspects of regulations and compliance:
- Indian regulations: RBI allows overseas remittance of up to US$2,50,000 per individual per financial year. Your investments in US stocks fall under this category and are perfectly legitimate
- US regulations: US allows foreigners to easily invest in US stocks. SEC, the SEBI equivalent in US, even offers the same protections to foreigners as it does to US residents. More on that later.
- Taxes: US doesn't have a capital gains tax for foreigners. The dividends you receive are taxed at a flat 25%. The cash is deducted from the dividends (tax withholding) and filed for you, without any need for you to file US taxes separately. In India, your capital gains taxes depend on how long you held the investment for. The dividends are taxed as regular income, but you receive foreign tax credits for the tax paid in the US. Simple, right! Either way, we are here to help you with your Indian tax filings.
Is my money safe?
Your security and trust are important to us. Each account opened with Winvesta is protected in the following ways:
- Your brokerage account is held with a FINRA regulated broker-dealer in the US (DriveWealth) and carries a SIPC protection of up to US$500,000. DriveWealth is a well-capitalized broker and has been registered with the SEC since 2013.
- WinVista is regulated by the UK's FCA, which is one of the most respected regulatory bodies in the world. You may check Winvesta's FCA registration here.
- We use state-of-art data encryption when handling your financial information. We also take care of your data privacy, and never share your personal or financial data without your explicit consent.
Already investing in the US through another platform?
Upgrading to Winvesta is super-easy. It takes only five minutes, and there's no fee involved. Transfer today and get
- Access to 3000+ US stocks and ETFs
- Zero-commission trades. No joining fee or annual maintenance charges.
- Strong compliance and account security
- Subsidized Indian tax-filing for international income with myITReturn, exclusively for Winvesta clients.
Get a $10 bonus when you transfer the full account. Simply write to myitreturn@skorydov.com to learn more.
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