https://www.taxtmi.com/forum/issue?id=121104 Taxability of a U.S. Economic Impact Payment in India remains unsettled. One approach treats it as taxable global income absent a specific exemption, while another regards a genuine refundable tax-credit payment as lacking the character of taxable income. Tax-free treatment in the United States is relevant but not determinative. Separately, a non-taxable payment may still be included in aggregate deposits for Category B foreign-bank-account valuation if credited by 31 March 2026. Payment classification should be supported by bank statements, dates, and IRS records. en-us Sun, 06 Sep 2026 17:37:40 +0530 Mon, 07 Sep 2026 12:08:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=121104 Taxability of a U.S. Economic Impact Payment in India remains unsettled. One approach treats it as taxable global income absent a specific exemption, while another regards a genuine refundable tax-credit payment as lacking the character of taxable income. Tax-free treatment in the United States is relevant but not determinative. Separately, a non-taxable payment may still be included in aggregate deposits for Category B foreign-bank-account valuation if credited by 31 March 2026. Payment classification should be supported by bank statements, dates, and IRS records. Discussion-Forum Income Tax Sun, 06 Sep 2026 17:37:40 +0530 https://www.taxtmi.com/forum/issue?id=121104