2
votes
1answer
62 views

Facebook application income (India)

I am currently working software engineer in India. Except for salary income. I get income from my facebook app which is very basic amount. For that I use paypal to transfer money to my bank account. ...
-2
votes
1answer
34 views

Roth conversion: US tax brackets for Non-resident Aliens (residing in India)

Question 1: If I move money from a traditional to roth IRA (or pretax 401k to roth) account, what are the US tax brackets? Are there any standard deductions? Will I have to pay any taxes in India for ...
0
votes
0answers
54 views

first time consultant, doubts on taxation

I have seen various replies but I would just like to confirm about my case as its my first time. I have been offered a consultant position and the company said there is no taxation at source. So this ...
3
votes
1answer
213 views

Can F1 OPT +H1B claim tax treaty benefits

I have been in USA for about two and a half half years on F1 visa. In 2013 I was on at F1 and F1 OPT till 30 September 2013. After that I switch to H1B status. I am a nonresident alien for tax ...
2
votes
1answer
46 views

Are distributions from Roth 401k or Roth IRA accounts taxed in India?

I am wondering if India distinguishes between pre-tax and roth IRA/401k accounts. So, if I am contributing to a roth account (401k and/or IRA) - would I have to pay taxes in India again: On the ...
5
votes
2answers
142 views

Do I need to pay income taxes for the money I earn online from a foreign website?

I work for a website based in Europe and they pay me every month to my bank account (salary account). Every time I receive funds, I will get a call from the bank for confirmation and they ask for the ...
1
vote
1answer
40 views

Tax Deduction under section 80C for Indian with foreign family Paying International Premium

I am Ronit, indian holding indian passport. My family, my wife and kids are foreign nationals and holding foreign passport. I have purchased insurance from AIA and I am paying insurance premium for ...
1
vote
2answers
110 views

Tax implications upon withdrawal of 401(k) or IRA while residing in India

Hypothetical situation. Let's say I am an Indian citizen living in India (and have some income). And, I withdraw money from my 401(k) or IRA. If its a traditional 401(k) or IRA, I understand that ...
1
vote
1answer
334 views

Tax rebate on house loan for under construction property

I have purchased a flat which is about to be completed by Dec 2014. As per the law I can get tax benefits on principle up to 1L rs and interest 2.5L for first 2 years then 1.5L (if first loan, and ...
0
votes
1answer
99 views

Indian Resident Working for US company

I am an Indian Resident working for a US Company as an employee. The work location is Bangalore, India. The salary is credited by US company after Deduction of tax as per US laws then credited to the ...
1
vote
1answer
655 views

Rectify demand outstanding in India when tax was already paid

I switched from one company to another company. The old company deducted tax amt based on my income for that financial year. But when I combined Form 16 of both the companies, I came to know that ...
-3
votes
1answer
115 views

Money transfer from Australia to India - avoid receiving ends service tax

How to avoid service tax at receiving bank in India
2
votes
1answer
880 views

US income taxes for an Indian citizen with US-sourced income

I am an Indian citizen who left US after completing my masters in Aug 2010. Since then I have never re-entered the US and I stayed only in India. I was in the US only on a student visa and did not ...
4
votes
1answer
5k views

Tax implications in India for sending money to India from US

I am planning to transfer around $8K-10K in my parent's bank account(Joint bank a/c) in India . I have read a lot of posts(like Will I have to pay taxes in India when I transfer money from a US bank ...
2
votes
1answer
112 views

How do I account for money paid to colleagues out of my professional income?

I am resident of India and I work as a freelancer, developing software for Indian companies. Sometimes, I do the work along with a few other professionals like me. I receive the payments into my bank ...
1
vote
1answer
110 views

How do I calculate tax liability on the turnover of a small vendor?

I run a bakery with a turnover of RS 3.00 Lakhs in fiscal year 2012-2013. What is my tax liability on this turnover?
1
vote
1answer
100 views

What is the amount of extra interest I have to pay along with my tax due?

My total tax payable is 60803 for the financial year 2012-2013. But, TDS deducted till 31st 2013 is 50822, so I have to pay the tax due of 9981. What is the exact amount I have to pay? Is there ...
1
vote
1answer
5k views

India Income Tax: Need to Pay Tax on Savings Account Interest for FY 2012-13 Or Not?

As per Indian Income Tax rules and regulations, for the Savings Account Interest accrued during the period of April 2012 to March 2013, do I need to pay any tax if it is less than Rs.10000? Or is it ...
2
votes
1answer
1k views

How do I calculate income tax on income that includes freelancing?

I'm a salaried person with an annual income of around 4 L/annum. Besides this, I also do freelancing which gives me some 2L/annum. A part of my income is deducted as tax from my employer at a rate of ...
6
votes
2answers
11k views

Will I have to pay taxes in India when I transfer money from a US bank to an Indian savings account?

I am currently in US, and would like to transfer some amount from my US Bank account to a savings account based in India on a monthly basis through a third party like Xoom or Transfast. If I'm going ...
3
votes
2answers
771 views

Tax questions - Working from India for US company

I am working from India for a US company and as per my knowledge I am not liable to pay any tax to US govt. My first question is can I have them deposit my pay check in US account without any ...
0
votes
2answers
162 views

Is Indo-US scholarship received in INR exempt from tax?

I am an Asst Professor working in a central university. I was selected for an Indo-US fellowship of $3000/month for doing a research project in the U.S. They have paid in INR to my university. In ...
0
votes
2answers
485 views

Income tax on my online drop-shipping business (India)

I am an Indian citizen and I run a semi-drop shipping business. The details are: I deposited 10 lakh through cheque/cash into my Indian savings bank account (PAN not submitted during account ...
2
votes
2answers
111 views

Income tax on international income with money not deposited in India

I plan to have a consultancy business outside India. I do not plan to remit my income to India immediately. I would do it later maybe after 2 or 3 years. Do I need to pay taxes now? or can I pay tax ...
1
vote
0answers
67 views

Taxation on Freelancing Software Jobs in India [duplicate]

Possible Duplicate: Indian Citizen want to work as a freelancer for Europe. How to pay tax in India? I am an Indian Citizen and was working for a Canadian company while I was living in ...
1
vote
1answer
1k views

Indian Citizen want to work as a freelancer for Europe. How to pay tax in India?

I got an offer to work as a freelancer for a European company. In Europe, its like you need to set up a small legal entity on your name but is this the same in India? How can i do freelancing in India ...
5
votes
1answer
345 views

Working as freelancer with two partners. How do I report the income for tax purposes in India?

I am a software engineer working in a IT company. Apart from this, I am also working as a freelancer with a U.S. client. Money comes in USD to my Indian bank account. I have two partners with an ...
1
vote
2answers
323 views

Income Tax liability for non-citizen of indian orgin

I am a citizen of Singapore of Indian orgin. I have been working for a multinational in Singapore which has registered office in India too. For the last fiscal ( Apr 2011 to March 2012), I had spent ...
1
vote
1answer
270 views

Will I get tax benefit from both HRA and Housing loan

I'm having housing loan but it is not self occupied and I'm staying in rental basis. Can I avail the tax benefit from HRA as well as from housing loan. If so is there any document need to be submitted ...
9
votes
2answers
3k views

Indian citizen working from India as freelancer for U.S.-based company. How to report the income & pay tax in India?

I am an Indian citizen and I work from India as a freelancer for an U.S.-based IT company. I am getting monthly payments directly into my Indian bank account. My colleagues' monthly payment come to my ...
1
vote
1answer
631 views

What is the criteria for zero interest on self assessment tax?

Say I owe total tax of Rs.1 lakh for the assessment year 2011-12. Of this say I have already paid 90k via TDS and advance tax. If I pay the remaining 10k in July 2011 just before filing returns, will ...
5
votes
1answer
159 views

Foreign tax credit

I was a student in one of the universities in Texas before I graduated in Aug 2010 and moved back home to India. However since June 2010 till date, I have been working with a US based company. ...
4
votes
1answer
618 views

My company didn't pay taxes on my behalf

I have filed tax returns based on form 16 I got from my employer. To my surprise I get a letter from it tax department stating my claim of filling tax hasn't been found in their records and they are ...
1
vote
1answer
2k views

What are the tax liabilities for an Indian citizen working in the US?

I have an opportunity to work in the US for a period of 1-2 year. as I have gone through the link, it suggest I don't have to pay any taxes in India as it is already included in federal tax. I am ...
2
votes
1answer
691 views

In India, does a company compulsorily have to file income tax on my behalf?

I work in an IT company in India. I get my monthly salary after monthly tax deduction as per TDS law. The tax filing deadline as per Indian government is 31st July, but my company has a deadline for ...
2
votes
1answer
140 views

Does India require its citizens to report income wherever they reside and earn (abroad)?

I have read that: "The U.S. requires its citizens to file tax returns reporting their earnings wherever they reside. However, there are some measures designed to reduce the international double ...
1
vote
3answers
2k views

If I am Indian citizen residing in India but earning through online freelancing in US dollars, to whom do I pay taxes?

Say I am an Indian citizen and residing in India and earning through online freelancing software programming in US dollars. Which government do I pay taxes to? Do I pay some taxes to Indian ...
4
votes
3answers
1k views

If I am Indian citizen residing in US and earning there, do I have to pay taxes to India?

Say, I am an Indian citizen and living and working in US, do I still have to pay some taxes to Indian government? My first thought is why should I be paying taxes to Indian government because neither ...
5
votes
2answers
2k views

What is the difference between PPF and NSC saving schemes?

I want to invest money in either a PPF (Public Provident Fund) or NSC (National Savings Certificate) scheme, but I would like to understand the differences between them.