Krishsangvi2007
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Global income in India from mutual funds
I have started a job on a 1257L tax code since September 2024 and I am taxed through the PAYE system. However, I have savings in india from mutual funds, on which I have already paid capital gains tax in India, for this financial year (2024-2025). I have four questions- 1. When I am filing my tax returns in the UK, do I need to file my global earnings/savings from India even if these earnings are through a passive source of income and have already been taxed at 20% rate? 2. am I on the correct tax code given that I have two sources of income (one through salary in the Uk, second through passive earnings through mutual fund capital gains investments in India)? 3. do I need to file my yearly global savings and earnings only when I bring this money into the Uk? Or do I need to file it irrespective of whether I am accessing this money or not in the UK? 4. Should I file my Indian source of income on an accrual basis or remittance basis?