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What are the pros and cons of buying property in India as an NRI on H1B? Specifically, any issues or tax benefits here in the US if you have an outstanding home loan with an Indian bank?

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As always this depends on your specific situation but here are some pointers: 1. You can claim tax benefits even for your India housing loan in the US, those are pretty good so expect a good check when you file your returns 2. If you’re buying a house as an investment then it’s a very smart move, you can pay off roughly 20 lacs in a year (more if you’re a bachelor) and real estate only goes up in India so you’ll always sell at a profit. 3. If you’re planning to stay here for a long term then buying here is a better idea and then you might be stretched for funds to buy a house in India 4. The biggest con though is you’d need a good caretaker for the house (family or paid agents) either way you need consistent check on the house

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Pro: You can claim interest expense deduction, if itemized deduction is more than standard deduction. Con: you may have to file additional forms with 1040 like 8938 etc. If you rent it, rental income will be taxable in the US.

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EY1 US taxes resident aliens & citizens on worldwide income. You get credit for any taxes you pay outside the US.

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