For questions that relate to the laws, practices, and products of India
3
votes
2answers
61 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
1answer
53 views
What capital gains taxes do I owe on stock sales in India?
I would like to know about the tax details on selling stocks if I follow this procedure:
Sold stock ABC after holding it for more than a year for INR 1000 for a profit of INR 100
Bought stock BCD ...
3
votes
2answers
49 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
62 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 ...
1
vote
1answer
92 views
How should somebody just starting their career begin investing for short-term goals? [India]
I am young, just started my career, and looking to begin investing so I can make my money work for me. I know there are two types of investments: short term and long term.
Could anyone provide some ...
0
votes
1answer
64 views
How to Split a loan, and how much should be my investment
I am from india, my idea of the question is to understand
what is the loan amount i am entitled to, what should be my plan for applying a loan, and is there any ways to reduce interest rate after a ...
1
vote
0answers
53 views
Recurring deposit interest calculation compounding period rule in India
Is there any RBI guideline or rule or guideline available for Recurring Deposits interest calculation compounding period for Indian Banks. I find it different for different banks in India and the ...
1
vote
2answers
60 views
House EMI. Is it better to take a shorter or longer tenure?
If I take a loan for 1.000,000 and try to pay it in five years, I'll have to pay approx 20000 as EMI.
My uncle tells me to keep the tenure as 20 years (with interest rate at 10%), and my EMI will be ...
1
vote
1answer
111 views
As a freelancer, how to receive money from overseas company to my individual bank account in India?
I am working as a freelance software developer. Recently I got a project from an overseas company. I asked them to send money through ICICI Bank Money2India.
The first payment made it successfully ...
0
votes
0answers
45 views
Investing in US Markets from India [duplicate]
Possible Duplicate:
How can I trade in U.S stock exchange living in India by choosing the broker in U.S?
I don't reside in US but would like to invest in US markets. If not in specific ...
2
votes
2answers
183 views
How is exit load calculated in case of SIP in mutual funds?
Assume I invest Rs.1000 on the 1st of January in a mutual fund that charges an exit load of 1% for redemption within 1 year. After 6 months I invest Rs.500 more in the same fund.
Now how much would ...
2
votes
3answers
2k views
Indian working in US on H1B - Do I have to pay taxes on interest earned from Savings Bank Account in India
I am an Indian citizen, currently living in US. I am on H1-B visa and employed in a company. I stay there pretty much all year long. This means I will be classified as an RA (Resident Alien).
...
0
votes
1answer
195 views
Income tax on my online drop-shipping business (India)
I am an Indian citizen & 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 ...
1
vote
1answer
91 views
As an individual Indian freelancer, do I have to create trade license & Current account?
I am an individual Indian citizen. I am 23 years old. Currently, I am working as an individual freelancer in freelancer.com. I have a savings account in State Bank of India. I do not have PAYPAL ...
2
votes
1answer
57 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
1answer
2k views
what is the meaning of allowing FDI in Insurance and pension funds
I want to know with respect to following news
http://www.hindustantimes.com/business-news/WorldEconomy/Pension-insurance-get-FDI-boost/Article1-939798.aspx
...
3
votes
1answer
165 views
Mortgage loan plus home loan
In India, can I be a co-borrower to a mortgage loan of a property which my father owns and then even take a home loan for a new property? (The mortgage loan will be used for paying the 20% self ...
0
votes
2answers
212 views
Is it customary for foreign companies to add Indian TDS tax to quotations
With the TDS being a deduction 'at source' and therefore not really the responsibility of the foreign company, is it customary to mention it when quoting and Indian client?
Thanks very much.
0
votes
1answer
279 views
Tax planning for Indian TDS on international payments
I have a prospective Indian client on a reasonably big project (enough to warrant this question). India seems to have a 'TDS' tax on outgoing business payments of 21%, that is to say that any payments ...
1
vote
0answers
61 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
404 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
6answers
334 views
Website for managing personal cash inflow and outflow, applicable to India?
Is there any website that helps me to manage my Daily Cash Inflow and Cash Outflow. I would like to have the following feature.
Periodically I should be able to enter my Cash Inflow (salary, gift, ...
5
votes
1answer
322 views
What does paying by invoice mean?
I was trying to buy a book from Springer in the Yellow Sale 2012. I chose to pay by invoice, without knowing what it means!?!
Further, if it matters -- I filled in: Billing address, Shipping address ...
5
votes
1answer
216 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 ...
3
votes
1answer
112 views
What kind of insurance would cover death/disability for organ donors?
Let's say I'm going to be a living donor for a relative. I'm about to willingly undergo major surgery with known (albeit low) risks. I will be taking on significant debt to pay for the whole thing. I ...
4
votes
2answers
3k views
Can I get a housing loan for my father's property?
I want to apply for a home loan, but the property is registered in my father's name. Is it possible? Can anybody help clarify my understanding of home loans?
2
votes
1answer
138 views
What is Chit funds. And how to invest in it?
I have heard a lot about this northern part of India, but no idea about this type of investment please share your views about this type of investment.
1
vote
1answer
104 views
What is the risk with electronic contract notes in India?
When you sign up for online commodity trading in India (and maybe even equities), if you opt for the convienience of electronic contract note, you are asked to sign a declaration that states:
I am ...
1
vote
0answers
41 views
Does India's National Spot exchange support web based trading for retail investors?
The NSEL website says that eseries is meant for India's retail investors. But I am yet to comes across any of its members (brokerage houses) that offer web based trading for retail clients? They only ...
1
vote
1answer
161 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
163 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 ...
2
votes
2answers
548 views
Applicability of W-8BEN form to Indian citizen working in India for subsidiary of a U.S. company?
I am an Indian citizen and employed by a legal entity incorporated in India. The parent company of this legal entity is a U.S. bank.
Recently, all employees received a notification that since the ...
2
votes
3answers
528 views
How is interest in my bank account calculated?
I am a software professional. I have one question. How do banks calculate interest on money deposited, if I get, say, 10 % per annum?
Say I deposit say RS.1000 on the 1st day of the month; then I ...
1
vote
2answers
120 views
minimum locking period for ULIP to avail tax benefit
What is the minimum locking period in ULIP to avail tax benefit in India.
2
votes
2answers
318 views
Go for Fixed or Floating interest in Mortgage
Which type of loan is best, a Fixed interest rate or a floating interest rate?
In India most banks offer mortgages that start with a 12% floating rate or a fixed rate mortgage with a 13.5% interest ...
6
votes
2answers
1k 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 ...
2
votes
0answers
66 views
Which USA Brokerage Firms can I transfer my India stocks to?
I would like to know which US brokerage firms I can transfer my India stocks to, after finding out my current brokerage (TD Ameritratde) requires doing so...
0
votes
2answers
86 views
Is there any kind of unsecured stock loan?
I am interested to buy some shares in the future. Can anybody tell me is there any kind of stock loan which doesn't need collateral?
1
vote
2answers
301 views
What are possible ways to transfer money from India to other countries and getting transferred from other countries to India?
Lets assume I want to send huge amount of money (in millions) from India to other country say United States and vice-versa and to be specific transferring online.
0
votes
4answers
166 views
What is Loan to Value Ratio?
Suppose if I am taking a $50,000 on loan for home or for car or for anything,I have read it many times that LVR is 85% or 80%.what does it mean actually?
Is it applicable for Indian citizens too?
0
votes
1answer
117 views
How can a resident Indian buy and hold physical gold/silver at BullionVault?
Is it legal for an Indian resident to transact at BullionVault? Are there any tax implications? While BullionVault allows deposits from international banks, it only does so in dollars, pounds or ...
0
votes
2answers
3k views
How do I send money from account to account using an ATM, within India?
I would like to know how to transfer money from an account to another account, using an ATM within India, which banks allow to transfer money.
If we cannot transfer money from account to account in ...
4
votes
2answers
780 views
Cashing a foreign check in US
Is it possible to deposit a check issued by a foreign bank in a US bank?
To be specific, I would like to know if I can deposit a check issued by a bank in India in INR in my bank in US. I was able to ...
0
votes
3answers
174 views
What is an IRA and is it applicable for Indian citizens?
Is an IRA useful for Indian citizens? What would an IRA be used for, and why would I want it?
0
votes
1answer
314 views
How prematurely can one withdraw from NSC?
I have purchased NSC in April 2011.
I would like to withdraw the same. Is it possible? If yes what procedure do I have to follow?
Also tell whether the same can be withdrawn from any one post office ...
4
votes
5answers
529 views
Moving back to India in a few years. Should I keep my savings account in the U.S. or in India?
My savings account in the U.S. says that it gives me an interest rate of 0.01% and it comes with a lot of restrictions (like limiting the number of transactions per month etc.), and checking account ...
3
votes
1answer
68 views
Deposit insurance in India: Is the limit per deposit, or per individual?
Is the deposit insurance of 1 lakh, per deposit or per individual (PAN)? If it is per deposit, would it be better to have for example 4 FDs of 1 lakh each instead of one FD of 4 lakh? (Of course it ...
2
votes
1answer
46 views
Is it possible to get a short term housing loan in India?
Suppose I want to pay for a house with my own funds expect that they are stuck in deposits that I can't redeem immediately. Is there any way I can get say a 40 lakh loan for a tenure of 1 year?
1
vote
3answers
2k views
How can I trade in U.S stock exchange living in India by choosing the broker in U.S?
I would appreciate if you kindly suggest an answer for this question.Anything incomplete in this question should be assumed.
And also please suggest which is the best brokerage firm/broker for this ...
3
votes
1answer
143 views
SBI term deposit versus SBI bonds
For an investment of couple of lakhs over a period of 2 years, what factors should I consider in evaluating these investments side-by-side?
buy SB1 term deposit at 9.25
buy SB1 9.25% N1 bonds from ...
