Mere granting of the loan and repayment thereof does not have any tax implications. Any income arising out of the property in question is to be offered to tax as income from house property.

The change of citizenship will not have any impact on the bank a/c status nor the taxation in India.

The tax residence in India will depend on the actual number of days stayed in the country during the previous year.

Presently, interest on foreign currency a/c with scheduled banks is exempt from tax.

The withholding requirements depend on whether the recipient is a non-resident. Any payment to a non resident which has income component has to be subject to withholding of tax at source.

No tax will arise in India on the past income earned outside India.

I am assuming that the deposits, shares and bonds with Citinri are the deposits, shares and bonds in Indian company / firms. As a non-resident you are entitled as per law, to continue to hold, own these deposits, shares and bonds, which you had invested while you were a resident. The intimation of address depends on the facts of your place of residence. In case you are going to be in US only temporarily and your Dubai address is the permanent address there is no problem in continuing Dubai address. It is assumed that all communications from Dubai will duly received and responded, if need be. The interest/dividends flowing out of the investments are taxable in the U.S.A as per the taxation laws of that country.

If the investments were effected out of convertible foreign exchange, exemption from filing the return is available. However, from the facts stated it appears these investments were done in rupee funds. Return has to be filed if the total income exceeds the threshold limit of Rs50,000. Return form is available online on many personal finance portals as well as the website of Finance ministry. Online filing has to be followed up with hard copy of the tax return.

No tax will arise in India only for the reason that amount is remitted from US in to a bank account in India.

Mere deposit of money in the US in NRI account is not eligible to tax in India.

The sale of the flat for 27 lakhs is liable to capital gains tax in India. It is not clear how you say there is no profit on the sale.In any case since you have reinvested the proceeds in another flat in India you can claim exemption under section 54 of the Income tax act. The utilisation of the balance money to defray medical expenses has no tax implications.

As regards PIO purchase and sale of property in India is liable to capital gains tax. In the case of long-term capital gains the rate of tax is 20% plus surcharge. There is scope to pay only 10% tax plus surcharge applicable to NRIs subject to certain conditions. In the case of short-term capital gains the tax rate is as per the slab rates with the maximum marginal rate being 30%.

The income received in Malaysia will also be taxable in India and credit of tax paid in Malaysia will be admissible.

Any interest earned on or after 1/09/2004 in NRE account will be taxable in India at the slab rate of 10/20/30% as the case applicable to Individuals. This is the position even for the existing deposits.

Indian pension may not stop on your becoming US citizen.

Based on the information given, tax may apply in India since NRI status will apply only if more than 182 days spent outside India.

The interest on the NRI account will be taxable in India subject to the double taxation agreement setoff in respect of the taxes paid in the U.S. As per the double taxation agreement, the taxes paid in India can be set off against the taxes payable in the USA.

The 2% cess is on the tax payable in the interest on the NRI account.

You can avail of the concessional rate of tax of 20% under Chapter XII A of the Act if the account relates to and asset created out of convertible foreign exchange. You will have to ascertain the source of the FCNR Account before availing of this facility of 20% tax.

The income earned after 1.9.2004 in respect of NRE Account will be taxable in the slab rates of 10/20/30% as the case may be. This applies to existing deposits also.

When you operate out of India and work for the UK company, the compensation relatable to the work in India and paid in pounds will be taxable in India. You may avail setoff of the Indian tax paid in the tax assessment of UK. You will have to pay the full India tax and get this as a set off or refund in the U.K.

Interest on the NRE earned after 1.9.2004 will be taxed at the slab rates, the maximum being 30%.

The type of entity to be set up for business has to take into account not only the tax issues but also several other factors. A generic solution is not possible for this query.

Yes, no tax if income is less than Rs.1 lakh and agricultural income is exempt. NRIs are treated like residents for this purpose. However, this is yet to become law.