Indo-US Taxation & DTAA

DTAA stands for Double Taxation Avoidance Agreement. India and the US are parties to a Double Taxation Avoidance Agreement. Under the rules of this agreement any Indian/US citizen working in the other country (Indian citizen in USA or US Citizen in India) may not be taxed in both countries on the same income. To explain further, a taxpayer cannot be taxed on his salary both in India and the US since he is citizen of one country and working in the other. DTAA rules therefore provide that a taxpayer can claim a credit in the country where he files as resident for any tax paid to a country where he files as non-resident. (Country here refers to only India and USA).

DTAA seeks to provide relief against double taxation. The Provisions of DTAA override the general provisions of taxing statute of a particular country.

For any further queries, please mail us to taxhelp@gkmmail.com

FAQs - Tax

We can implement any changes that you require of us without losing much time. We are in the process of setting up a system to ensure that you will be able to monitor the process

  • The information we receive from you is sent electronically and the hard copy of files stays in your office.
  • Once we complete the returns and transmit it to you, we will not retain any information sent unless specifically told by you to do so.
  • You will review and approve the returns prior to e-filing / sending the prepared returns to your client.

All you need to do is to scan the requisite documents, save it and then send it to us through e-mail or put it up on our server. The process is simple and does not require employing technical staff.

  • GKM values and respects the privacy and confidentiality of all information transmitted.
  • The information transmitted is always encrypted and then sent through secure channels on the internet.
  • Please refer our security section for exact details of our security practices.

Outsourcing will assist you in

  • Obtaining timely and accurate information
  • Getting the best of the latest technology
  • Reducing costs
  • Focusing on your core competencies and freeing resources to concentrate investment in core areas.
  • Obtaining access to a larger number of skilled personnel at reduced cost.
  • We offer you Cost Savings with the same level of quality. Your costs will reduce by 40% to 60%. It allows you to reduce seasonal hiring and training of personnel.
  • We offer a fast turnaround time due to time zone differences.
  • We ensure security of data and offer you the advantages of the latest simplified web based technology.
  • Our services allow you to process a larger number of returns in lesser time.
  • Our services ensure that your professionals are freed up to devote their time and creative energy to other strategic areas of your business.
  • Our public accounting experience coupled with our BPO unit provides us the right background to acquire/tap the pool of resources abundantly available here.
  • Our services help you set up a system of checks and balances, which might not have been possible in-house.
  • GKM will use the source documents sent by you to prepare a federal and state tax return.
  • Once the return is completed, we will send you an e-mail and you may download the files and the returns after decrypting the same. More information on the security protocol is available on request.
  • In the case of tax returns, we would be sending you Form 1040 and State return with the relevant schedules and work papers showing our calculation.
  • In case of bookkeeping all the information that comes to us is posted to the general ledger and matched against the number of entries sent by you.

GKM’s average turn around time is two to three business days.

GKM has CPAs, Chartered Accountants and MBAs who are trained in depth in US tax laws. GKM has continuous learning and upgrading programs and CPAs from the US are assigned to regularly train our preparers located offshore, using case studies and other developmental tools.

The whole purpose of outsourcing is to save cost.  All that is required is to use an administrative person to scan documents, save it and then send the saved file to us in an e mail or put it up on our server.  We process the information for you and send it across to you.  We will provide requisite technical assistance to help facilitate the process.

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