For questions that relate to the laws, practices, and products of India

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1answer
22 views

How can I find a report of dividend earned in a FY?

(My first post here, gently...) I have been in the stock market for over a year now. I have been trading via an account with Kotak Securities. I am now filing my taxes and need to know the total ...
2
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1answer
72 views

Can I take a loan against propety in my children's name?

I am from Chennai, India. The house which we are living in Chennai used to be in my father's name. My father has four children and I am the last one, daughter and I am widowed and living with my ...
2
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0answers
24 views

How do I loan money as a non-resident Indian (NRI)?

I am a Non-Resident Indian (NRI) and want to send approx $10,000 as a loan to my father's account in India as a contribution for a new home purchase. How do I set this up as a loan so if he wants to ...
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1answer
30 views

Tax implication for Indian citizens working in US on L1 visa

I am a citizen of India, currently working as a software engineer in India. Thus I am paying income-tax to Indian-Govt. I am moving to US in November-2014 on L1-Visa. I had following questions in ...
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2answers
58 views

How can I bring loaned money back to US from India

I am a US permanent resident and I loaned some money to my father in law in India early last year. I transferred US dollars from my US bank account to my NRI (Non resident Indian) account (Indian ...
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1answer
27 views

Lump sum investment vs SIP when I have the lump sum

I am fresh out of college and placed with a good job. It's been two months now and I have with me (after making all deductions): Two months salary Signing bonus = Equivalent to another 1.5 months of ...
1
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1answer
33 views

What are the tax implications of selling an investment property in india?

I am living in UK for last 10 years. I have an NRE and NRO account in Bank of Baroda. I want to sell my flat in India and will deposit the cheque of 50 lakh in my NRO account. I have bought this ...
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1answer
28 views

How can I buy an OTC stock listed in Nasdaq from India?

I am a citizen of India. I would like to buy some OTC stock which is listed in Nasdaq. What is the procedure? Do I have to find a US broker? Is it mandatory to fill W8 Ben form for Indians? Do I ...
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1answer
68 views

Investment Newbie - Options in India - For $10K - for 10 years

What are the investment options in India for a newbie like me. I would like to start with 500,000 INR. (5 lacs / roughly $10K). Its for a long term. I don't need this amount for 10 years. Low to ...
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3answers
160 views

Need a loan to buy property in India. What are my options?

I have seen a property in India, and I am planning to buy it. The total cost is $105k, out of which I have $30k of my own. The remaining $75k needs to be financed somehow. I can get a loan in India, ...
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1answer
44 views

Long term capital gains

I held a agricultural land in Gujarat state for 14 years and sold it on 20 th august. As per the law in Gujarat a non farmer can not hold agricultural land so the land status was changed to non ...
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1answer
54 views

Get money from USA to India

I am a freelancer and need to get payment from a client living in USA. I am in India. I am using paypal and they charge a lot of fees and I hate to use them. What are the alternative to get ...
1
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1answer
31 views

How to receive dividend in INDIA

I have shares of City Union bank for more than a year. I have my trading account with HDFC Securities linked with my HDFC bank account. City union bank has announced dividend and I have not received ...
4
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1answer
66 views

US citizen transferring money to Indian fiance to buy property

I am a US citizen wanting to transfer money to my Indian fiance to buy property. Is the best way to bring in cash, and declare the amount with customs at the airport? How much tax am I liable for ...
1
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1answer
35 views

Do I have to pay taxes on PPF in USA?

I am going to work on H-1B in US for next 3 years. I am sure that I will return to India after 3 years and do not want to permanently settle in US. In order to invest money in India I am planning to ...
4
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2answers
107 views

I'm quitting my Indian job of 5 years and going on a sabbatical. What do i do with my PF?

I work in the tech space.I quit my job after 4 years and 9 months. I am not going to a new job but am taking a sabbatical. I guess it's more of a short break. After this break of 2-3 months, I will ...
2
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1answer
44 views

Foreign currency in my uncle (no blood relation) account

I work in middle east and wanted to transfer money to my uncle's account, as a help to him. I will be depositing cash money through a money transfer agent. First question is "does my uncle have to ...
1
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1answer
38 views

Income tax Rebate on more than one property

I have purchased one house property at Bhopal. which is constructed. For which I paid Rs. 280800/ pre EMI interest & Rs. 260000/ EMI interest. I purchase another house property in Gurgaon. It is ...
2
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3answers
67 views

Buying Fixed Deposit in India from Europe

Given the chance, does it pay off to open a FD in India (high interest rates, high inflation) with Euros (low interest rates, low inflation) from Europe? Or is it too risky on the long run (~ 1 ...
1
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1answer
17 views

Will I pay tax in my account in India if I get a transfer from UK from a different party

I stay in India and have a salary savings account here. A friend of mine is making a transfer from UK in GBP to my account in India. Amount is 35000 pounds. Do I face any taxes, legal liability or ...
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2answers
31 views

Transfer from regular savings to NRO account

I have a regular savings account in India and a NRE/NRO account as well with a different bank. I just haven't gotten around converting my regular savings to NRE/NRO. Can I move my funds from regular ...
0
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1answer
57 views

How to save tax in India

Hi I'm a salaried person with an annual income of 4 L/annum. I don't know much about tax saving. What can I do save tax in India ? and Is PF/Pension and Gratuity in salary taxable in private company ...
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1answer
30 views

Will I be taxed in India

I am on a project (1 year duration) in Qatar. I am remitting money thru TT to my HDFC Bank savings account in India. All family maintenance/expenses and Home Loan EMI is deducted from this Saving ...
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2answers
52 views

How to file income tax returns for profits from ESPP stock?

My company is listed on the NASDAQ. I sold stock under its Employee Stock Purchase Plan (ESPP). I want to know how to file income tax returns for the profit. Which form should I use? What values ...
0
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1answer
70 views

Tax Calculation Concept in India

Hi I'm a salaried person with an annual income of 4 L/annum. I don't know how do I calculate the income tax that I need to do. In the 4 L/annum what things are need to exclude like 2.5 lac exemption ...
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0answers
44 views

Which Bank can help me cash a US treasury Check in India

ICICI bank refuses to entertain inspite of having a bank account, any other options. Any guidance is highly appreciated.
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2answers
86 views

Tax considerations for outsourcing freelance work to foreign country

I've seen this asked a few different ways (closest was here), but I am looking to find out from the business's perspective, how to report (if necessary) the amount paid to a foreign contractor. My ...
3
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1answer
64 views

Weightage of products used for measuring inflation

How does the government fix a particular weightage for a particular commodity which is to be used during measurement of inflation? Is there any specific scientific formula that is to be used?
1
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1answer
56 views

Tax on Money transfered to India from UK?

I'm from India came to UK on Feb 4th 2014 and I will be in UK till Sept 30th 2014. I'm earning money in Pounds, and paying tax as per UK tax policy. I could save some money which I transferred to ...
0
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0answers
14 views

What is the cheapest way to get funds from the sale of stocks in a Morgan Stanley BenefitAccess account to India?

I hold ~ 200 MSFT shares and am planning to sell them... Last time I sold shares and opted for a wire transfer, I lost nearly 3% in fees and commissions (as compared to a naive conversion of No. Of ...
0
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3answers
92 views

IS it the wrong time to get into the equity market immediately after large gains?

I was planning to get into a few equity MF's (till now I've had > 90% investments in Debt funds and Fixed deposits), but looking at the performance, most have had massive gains in the last 1-2 months. ...
0
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1answer
99 views

How to transfer money from the US to India without paying taxes?

During my tenure in US, I deposited money in Wells Fargo checking account. I had to move to India last year. Now I would like to close the Wells Fargo account and get money transferred to India. ...
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1answer
45 views

Freelancing as a Technical Support Advisor

I am freelancer from India providing technical assistance to people in UK and US. I get these numbers from different companies in India who are not able fulfill customers needs. Is it possible for me ...
1
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1answer
100 views

Filling Balance sheet in ITR4 for freelancers

I'm trying to fill ITR 4 for the first time. I'm a salaried professional with a side income from freelancing. I earned around 3 Lacs plus from freelancing. In ITR 4 there is a section - Part A ...
1
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1answer
55 views

Does a person who newly became Indian Citizen need to pay taxes for the asset he transfers to India from his ex-citizenship country?

Between 1992 and 2004 I was working in USA. I had also gained US Citizenship in 2003. In 2004 I returned to India and since then lived in India. I got (back) Indian citizenship in 2014. Now I want to ...
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1answer
53 views

Query regarding Term plan

I want to take a term plan and need your guidance on the following: Brief about me (it might be useful for you to evaluate my financial planning): Family:         ...
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0answers
33 views

Can I transfer my RSU/ESPP shares money to a friend working in US?

I am an Indian citizen. I need to sell the ESPP and RSU shares granted for US company. I want to transfer the money to my friend's account, who is working in US but is an Indian citizen. He will in ...
4
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1answer
248 views

How a company in India can misuse my PAN number and its scanned copy that I provided as an interview candidate?

Two companies in Bangalore and Pune (India) asked me to send PAN number (government ID number used as ID for income tax return and transaction, like social security number in the US) and scanned soft ...
2
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1answer
58 views

Which CHALLAN to use for paying tax

I am individual and while filing ITR it is showing me tax is payable. Now I landed on this page https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp. But I am confused which challan to ...
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2answers
144 views

What is the best retirement strategy for an Indian?

For an Indian citizen in India, looking to retire years from now on which of the following would be a better retirement fund ? Retirement plans (Deferred/Immediate annuity plans like ...
2
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1answer
123 views

Tax on NRE account

I am an UK citizen. I opened a recurring monthly fixed deposit Indian NRE account at 9% interest for 10 years. No tax in India and repatriable. My first question is do I have to pay tax in the UK ...
2
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2answers
60 views

Website for e-filing income tax india

Is there any recommended website for filing ITR in India except for government's website ?
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1answer
84 views

Calculate the optimum contribution to Provident Fund(PF) account

I am fresh out of college and started working and want to work out how much I should contribute to my Provident Fund account to maximize the benefit from tax deductions. I am from India, so for those ...
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1answer
30 views

Is it mandatory to have in hand cash of Rs 1 lakh while starting a pvt ltd company?

Well i wanted to start an OPC pvt ltd company but am confused about the minimum share capital of Rs 1 lakh , is it mandatory to have Rs 1 lakh in hand or in form of investments and assets before ...
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1answer
54 views

Net money invested in Stock indexes ended up in red

A look at the Indian Stock exchange trade today here shows a net investment of INR 296 crores but all the indices Nifty (-38.2), BSE (-137.30) ended in red. Why so? When money is pumped into the ...
2
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1answer
94 views

How to invest Rs.10k in India

I would like to invest my savings Rs.10,000 which gives me higher returns. I do not want to save in bank FDs. I would like to take some risk(yeah.. Rs.10000 is not a big amount) as the amount is not ...
6
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1answer
577 views

Best way to transfer abroad loan amount to Indian parents Savings Account

Can you pls advise: I am working in Dubai, and applied for a loan of 25Lakhs, I would like to use this funds to repay my personal loan (to relatives) and want to buy a land with left out money. I have ...
4
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1answer
98 views

What is the logic behind peak interest rates for 390 days FDs in India?

Currently fixed deposit (FD) rates in India are around 9% p.a with various Indian banks. I have observed that there are tenure brackets which start from 7 days till 5 years. There is always a bracket ...
0
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1answer
55 views

What should be the maximum affordable loan earning X per month?

I will be shortly purchasing a car with help of a loan. Suppose my earnings per month is X, what should be the EMI [Equated Monthly Installment] limit ? Till now my monthly expenses are X/4 and the ...
3
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1answer
306 views

Tax implications on money transferred to NRO account

Here is the situation - my wife and I are based in UK. I have NRO/NRE account in India. My wife has remitted some money to my NRO account in India. Can the forum please help me with the following? ...