How to buy T-Mobile US (TMUS) stock from India

Yes, an Indian resident can buy T-Mobile US — legally, in US dollars, under the RBI's LRS. The buying is the easy 10%. The 90% is tax, estate-tax exposure, and sizing. TMUS started paying a dividend in 2023 and is raising it fast, so the US withholding and Form 67 workflow matters here — alongside capital gains. This is the short version.

The 30-second version

• Legal and simple. Buy TMUS via an India-facing platform (Vested, INDmoney) or global broker (Interactive Brokers, Rovia). Whole shares or a fractional rupee amount.
• Now a dividend payer. TMUS started paying in late 2023, hiking close to 20% YoY. Yield is modest (around 1.5%) but the cash-return story is real and growing.
• US withholding applies. Dividends taxed 25% at source under the India-US DTAA (filing W-8BEN avoids the 30% default). You add it to "income from other sources" in India and claim foreign tax credit via Form 67 — moving to Form 44 from TY 2026-27.
• India tax on gains: hold >24 months for 12.5% LTCG (no indexation); sooner is slab. Section 112, not the friendlier 112A.
• Estate-tax trap: directly-held TMUS is a US-situs asset — above $60,000, the estate faces up to 40% US estate tax, with no India-US treaty relief.
• If your thesis is "US large-cap," QQQ already holds TMUS — same exposure, no single-stock risk.

Quick facts

Can an Indian resident buy it?	Yes — fully legal under the LRS
Ticker / exchange	TMUS / Nasdaq
How	India-facing platform or global broker
Minimum	A fraction of one share
Dividend	Yes — started 2023, ~1.5% yield, growing ~20% YoY
US withholding on dividend	25% under the India-US DTAA (file W-8BEN)
India tax on gains	12.5% LTCG after 24 months; else slab (Section 112)
Estate-tax risk	US-situs above $60k means up to 40%, no treaty relief
Annual compliance	Schedule FA, Form 67 (Form 44 from TY 2026-27) for dividend

How to buy it — 3 steps

1. Open an account and finish KYC. Pick an India-facing platform (Vested, INDmoney) or a global broker (Interactive Brokers, Rovia). File your W-8BEN during onboarding — non-negotiable for TMUS, because it caps US dividend withholding at the 25% treaty rate instead of the 30% default. New to this? Start with how to invest in US stocks from India.
2. Fund it via the LRS. Remit under the LRS (cap: $250,000 per financial year). 20% TCS applies above ten lakh rupees in a year — a creditable prepayment, not a cost. See LRS explained and the LRS and TCS calculator.
3. Place the order. One TMUS share trades in the low-to-mid hundreds — whole or fractional.

The dividend tax — the part Amazon investors skip

TMUS pays a dividend around $3.40 a year per share (quarterly), raised close to 20% YoY. That puts an Indian investor into the US-dividend workflow:

Step	What happens	Rate / form
US withholds at source	Broker deducts before payout	25% under India-US DTAA (W-8BEN on file)
You report in India	Gross dividend in "income from other sources"	Your slab rate
You claim foreign tax credit	Avoids double tax up to India liability	Form 67 today, Form 44 from TY 2026-27

Worked example. Hold 50 TMUS for a full year at $3.40 → $170 gross. US withholds 25% → $42.50 retained, $127.50 lands. You declare the full $170, pay India slab tax, and claim the $42.50 back via Form 67 (Form 44 from TY 2026-27) up to your India liability. Skip Form 67 and you simply pay India tax on top — pure double taxation. Full mechanics in dividend withholding and Form 67.

The capital-gains tax that actually matters

Capital gains on TMUS sit under Section 112 (foreign shares don't get the friendlier 112A treatment Indian-listed equity enjoys):

Holding period	Treatment	Rate
24 months or less	Short-term	Your slab rate (up to roughly 30% plus surcharge)
More than 24 months	Long-term	12.5%, no indexation

Worked example. Buy 10 shares at $240, USD/INR 86 → cost 2,06,400 rupees. Sell 26 months later at $270, USD/INR 88 → proceeds 2,37,600 rupees. Taxable gain 31,200 rupees; LTCG at 12.5% = 3,900 rupees. The gain is computed in rupees, so a weaker rupee at sale amplifies your reported gain. Model your own with the US capital-gains calculator; full rules in how US stocks are taxed in India.

The $60,000 estate-tax trap

Directly-held TMUS is a US-situs asset. If the holder dies with more than $60,000 of US-situs assets, the estate faces US estate tax up to 40% — and the India-US treaty does not cover estate tax. The fix (pooled or fund structures rather than direct shares) has to be a deliberate choice made before the position gets large. Full detail: the $60,000 estate-tax trap.

Buy the stock, or get T-Mobile through an ETF?

If you want…	Best route
A concentrated bet that TMUS keeps gaining postpaid share	TMUS directly
"US large-cap / Nasdaq leaders" exposure	QQQ — TMUS a meaningful weight plus 99 other names
"US communications sector" exposure	VOX or XLC — but skewed to META and GOOGL
The least single-stock risk	A broad ETF

TMUS is a top-25 weight in QQQ, so a Nasdaq-100 fund already gives you sized TMUS exposure plus 99 other names, one Schedule FA entry, and cleaner estate-tax treatment via pooled vehicles. The sector ETFs VOX and XLC are a less natural fit: GICS communications-services is dominated by META and GOOGL, with telecom a minority slice. Compare routes in direct stocks vs US ETFs and best US ETFs for Indian investors; broader case in US ETFs for Indians.

The business in one screen

What it is: the third US wireless carrier — structurally different from the merger-era TMUS after absorbing Sprint. The 2.5GHz mid-band spectrum from Sprint underpins a real 5G lead, driving postpaid subscriber share-gain from Verizon and AT&T. Fixed-wireless access (FWA) plugs that spectrum into home broadband, opening a multi-billion incremental revenue line. Free cash flow has inflected sharply as synergies land and capex peaks pass — funding a dividend, buyback, and deleveraging programme simultaneously.

Bull case	Bear case
Post-Sprint synergy realisation showing up in cash	Telecom is structurally low-growth
Mid-band 5G leadership via 2.5GHz Sprint spectrum	FWA TAM may not be as deep as bulls assume
FWA expanding the home-broadband TAM	Cable MVNOs (CMCSA, Charter) entering
Postpaid subscriber share gain from VZ and T	Verizon C-band closing the mid-band gap
Capital-return ramp: rising dividend plus buybacks	Valuation no longer the cheap telecom it once was
Peak capex past — FCF inflecting

Exact valuation is in the live widget above — a post-merger share-gainer priced for continued execution rather than rescue.

Our take

Verdict: BUY — post-Sprint TMUS is a different company: a share-gainer with a real network advantage, inflected FCF, and better risk/reward than Verizon or AT&T.

• Network advantage is durable. The Sprint 2.5GHz mid-band gives TMUS a 5G coverage and capacity lead that has translated into genuine postpaid net-add leadership — not a one-quarter promo spike. Verizon's C-band is catching up but TMUS is not standing still.
• Fixed-wireless is real incremental revenue. FWA adds a multi-billion home-broadband line on spectrum that's already paid for. The ultimate TAM is contested, but unit economics here are unusually attractive for a telecom.
• Capital return finally compounding. Dividend (started 2023, growing close to 20% YoY), buybacks, and deleveraging together as capex normalises. Yield is still about 1.5%, but the growth rate is the story — total-return profile already screens better than Verizon or AT&T at lower leverage.

Compliance note. Vested.blog is not a SEBI-registered Research Analyst. The above is an editorial opinion for educational illustration only — not investment advice and not a regulated stock recommendation. Vested.blog is published by Rovia; the publisher and its affiliates may hold positions in stocks discussed. Make your own decisions or consult a SEBI-registered advisor.

Risks to size for

• Valuation re-rating: TMUS no longer trades at a deep discount to peers. If postpaid share-gain slows or FWA disappoints, the multiple gives first.
• Cable MVNO competition: Comcast and Charter bundling mobile with broadband is a real long-term overhang for industry pricing.
• Currency: return is USD, spend is rupees — see the rupee-dollar effect.

Two things people forget

• Schedule FA: disclose TMUS in Schedule FA of your ITR every year you hold it — even if bought and sold within the year, even at a loss. Non-disclosure carries Black Money Act penalties. Use the Schedule FA helper.
• Form 67 (then Form 44): because TMUS pays a dividend, you need to file Form 67 (Form 44 from TY 2026-27) every year to claim credit for the 25% US withholding — or accept double tax by default.

Bottom line

Buying TMUS from India is easy and legal. The thought goes into the dual tax story: a Section-112 capital-gains play (12.5% after 24 months) and a dividend payer with 25% US withholding that needs Form 67 every year. Layer the $60k estate-tax trap and sizing on top. The thesis is post-Sprint share-gain, inflected FCF, and a fast-growing capital-return programme — better risk/reward than Verizon or AT&T. If your real thesis is "US large-cap leaders," QQQ already holds it. For accounts and options, start at the US investing hub.

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This article is general information, not personalised investment, tax, or legal advice. Rules, rates, and thresholds described here are as of 2026 and can change; verify the current position and consult a qualified advisor before acting.