Foreign earned income exclusion a lower income taxpayer, even if the taxpayer is in a higher tax bracket. Foreign earned income exclusion The United States taxes citizens and residents on their worldwide income. Citizens and residents living and working outside the U.S. may be entitled to a foreign earned income exclusion that reduces taxable income. For 2017, the maximum exclusion is $102,100 per taxpayer, $103,900 for 2018 (future years indexed for inflation). In addition, the taxpayer may exclude housing expenses in excess of 16% of this maximum ($44.19 per day in 2015) but with limits. The exclusion is available only for wages or self-employment
Income tax return (India) Tax Department of India. The Income Tax Act, 1961, and the Income Tax Rules, 1962, require citizens to file their tax returns with the Income Tax Department at the end of every financial year and this form is a part of the filing process as specified by the Government of India. The due date for filing return with the Income Tax Department of India is 31 July every year. This is subject to change only if a directive to this effect is issued by the Income Tax Department or the Ministry of Finance, India. The Financial Year ends on 31