How do I report my mututal 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 reinverstment is considered as Dividend income in USA?
- Add up total dividend in US tax year (1 Jan to 31 Dec) and then convert to USD.
- Indian companies do not issue 1099-DIV. They only issue Form-16A (if they deducted any income tax on your income).
- Yes, you can count the dividend income in India as dividend income in USA.