Retiring In India - Pensions and Taxes

joepubli · Aug 27th, 2005, 19:09

Hi
Does anyone know what the situation with taxes is in India if a British citizen retires in India? Is the pension fund or the pension remitted taxable?

As I understand it, a resident in Indian is taxable on his worldwide income in India (subject to any double taxation treaties).

There are some countries where British Pensions are taxed at a very low rate (eg only 5%) and there is no tax in UK on them if you are resident abroad - is India one of these?

Are there any clever tricks with pension transfer etc?

Many thanks - grateful for any pointers.
Joe

GoanCanuck · Aug 28th, 2005, 03:00

Not an expert on taxes but from what I have heard your pension will not be taxed.

Red Riding Hood · Dec 6th, 2005, 11:58

Hi Joepubli!
Just signed up - so maybe you know already 'everything there is to know'... If not: the National Website of the Indian Tax Dept is very informative. See www.incometaxindia.gov.in There is an Agreement for avoiding double taxation between India and several other countries. I am a Dutch national and my state pension will be taxed in Holland; insurance annuities and pension from a private company are taxable in India.

Aug 27th, 2005, 19:09	#1
joepubli Member Join Date: Mar 2005 Location: london Posts: 90	Retiring In India - Pensions and Taxes Hi Does anyone know what the situation with taxes is in India if a British citizen retires in India? Is the pension fund or the pension remitted taxable? As I understand it, a resident in Indian is taxable on his worldwide income in India (subject to any double taxation treaties). There are some countries where British Pensions are taxed at a very low rate (eg only 5%) and there is no tax in UK on them if you are resident abroad - is India one of these? Are there any clever tricks with pension transfer etc? Many thanks - grateful for any pointers. Joe

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Aug 28th, 2005, 03:00	#2
GoanCanuck Maha Guru Member Join Date: Oct 2004 Location: Vancouver Posts: 3,126	Not an expert on taxes but from what I have heard your pension will not be taxed.

Dec 6th, 2005, 11:58	#3
Red Riding Hood Member Join Date: Dec 2005 Location: India Posts: 1	Hi Joepubli! Just signed up - so maybe you know already 'everything there is to know'... If not: the National Website of the Indian Tax Dept is very informative. See www.incometaxindia.gov.in There is an Agreement for avoiding double taxation between India and several other countries. I am a Dutch national and my state pension will be taxed in Holland; insurance annuities and pension from a private company are taxable in India.

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