Question – 6: How do I report my mutual fund income in India. Do I ask for quarterly statements for investment? Do they issue specific form in India similar to 1099-Div in USA? Dividend reinvestment is considered as Dividend income in USA?

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Category: NRI Questions and Answers
  1. Add up total dividend in the US tax year (1 Jan to 31 Dec) and then convert to USD. If you need exchange rates, please use the IRS website link: https://www.irs.gov/Individuals/International-Taxpayers/Yearly-Average-Currency-Exchange-Rates
  2. Indian companies do not issue 1099-DIV. As per Income Tax Act, 1962, the mutual fund only issue Form-16A (if they deducted any income tax on your income).
  3. Yes, you can count the dividend income in India as dividend income in USA.