I moved to US about 3 yrs ago on H1B. Looks like I will stay here for few more years. I am planning to withdraw my EPF online in India. I contributed to EPF for more than 7 yrs. Do I need to pay tax for this or I can submit Form 15G to avoid tax?
Under the Income-tax Law, an individual will be treated as a resident in India for a year if he satisfies any of the following conditions ( i.e. may satisfy any one or may satisfy both the conditions):
- One is in India for a period of 182 days or more in that year; or
- One is in India for a period of 60 days or more in the year and for a period of 365 days or more in 4 years immediately preceding the relevant year.
**None of the above applies to me.
Any expert advise or advise based on similar experience is greatly appreciated.
Thank you in advance !