Anyone investing in US Stocks from here?
Is it a good idea? I am planning to invest in TTWO and sony. Please share about the taxes and the risks. Also the supported app because groww has stopped opening international accounts.
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Fyi If you invest more than ₹10 lakh in U.S. stocks from India, it falls under the Liberalized Remittance Scheme (LRS) and is subject to a 20% Tax Collected at Source (TCS) at the time of remittance, which can be claimed as a tax credit while filing your income tax return. Any capital gains from selling U.S. stocks are taxed in India — long-term capital gains (held for more than 24 months) are taxed at 20% with indexation, and short-term gains are taxed as per your income tax slab. Dividends received are taxed at a flat 25% in the U.S., and this can be claimed as a foreign tax credit under the India-U.S. Double Taxation Avoidance Agreement (DTAA) while filing returns in India. Proper reporting under foreign asset schedules in your Indian ITR is also mandatory to stay compliant. Since I don't want to go through all these I just invested 10L in top 10 big nasdaq companies like nvidia, amazon, meta, netflix, microsoft, alphabet, apple, tesla.
