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

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1answer
28 views

How to reduce income tax in India?

My salary is 450000 per year and tax deduction as below. Gross amount- Rs 450000 Net Taxable amount- Rs 250000 Net Taxable Salary per month - Rs 20833.33 Monthly taxes deducted at 10.3 % - Rs ...
1
vote
1answer
46 views

Income tax calculate on your per company or on my total income in year?

I don't know if this is right place of ask this question. But still need to ask. Now I start financial year with by company A. So company A only provide final settlement account ( including AVP ) in ...
-3
votes
1answer
41 views

Loan for treatment

Getting loan from parents property. Both Mother and Father have expired. We are 7 member (5 brother & 2 Sisters ) , property is in name of our parents. For emergency we require loan for treatment ...
0
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1answer
15 views

Taxable Salary Calculation (India)?

I'm an Indian citizen having salary income with components like basic + DA + Pf contrivution + allowances etc. Are all these taxable ? Help required
-1
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0answers
43 views

Do I need to pay taxes on a large transfer of money from an American to my Indian Bank account? [closed]

An American friend wants to send a large amount of money to my Indian bank account, how is the conversion from dollars to Rupees accomplished and will one of us have to pay taxes on the transfer?
0
votes
0answers
14 views

Income source in India and abroad [duplicate]

I am working in India and I get my monthly salary which gets deposited in my salary account after tax deductions. I am even filing my returns every year. Recently my co posted me to UAE for a long ...
-5
votes
3answers
93 views

How much of my home loan is coming from a bank, how much it goes back? [on hold]

If I get $100,000 home loan, at 10% interest rate, I would pay a total of $300,000 ($200,000 interest and $100,000 loan amount) over next 20 years. EMI would be roughly, $965. How much of my home ...
0
votes
1answer
56 views

How much should I pay to bank for educational loan?

I have a bank loan taken from one of the nationalised bank and I owe 4.54 lakhs at 11% interest to the respected bank I have not paid since last 2 years towards interest So I wanted to know how much ...
1
vote
1answer
25 views

How Provident fund is calculated in india

I am a software engineer, i worked in two organizations in those two organization provident fund was not deducted they credited me complete salary to bank account by monthly . Recently i joined a new ...
0
votes
0answers
40 views

Transfer of inherited property, removal of joint name?

My father just passed away last month. We had a flat in Mumbai. What are the steps I need to take to transfer it over to my name? I live in the USA so I do not have any idea how to go about ...
1
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2answers
49 views

Independent IT Consultant with annual fees less than 10lacs

I have started as an independent IT consultant recently. Since I will be way below the 10 lacs exemption bracket, do I need to have Service Tax Number? Also is it mandatory to get this number and ...
1
vote
1answer
49 views

How much cash in INR can I bring to India

While traveling to India from Canada as a Canadian citizen, how much cold hard cash in INR am I allowed to bring to the country? I dont want to use credit card and pay FX conversion fee of 2.5%
1
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2answers
59 views

What do I need to start trading in the NSE (National Stock Exchange)?

Can I start a Demat account with a bank like the Oriental Bank of Commerce and use a stock broker like Sharekhan.com?
1
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2answers
44 views

Do I need to pay Income Tax if i am running a escrow service in India

I am about to start a service which acts as a escrow service between two people (Keeping money for short amount time and paying once the deal is confirmed), Am getting about 10% the total amount. But ...
0
votes
1answer
33 views

income tax for purchased/sold short term & long term shares

I have purchased above 600,000 rupees stocks from different company through NSE/BSE exchange.I have a trading account with canara bank(sb), i deposited rupees 6 Lacks this year & purchased ...
1
vote
1answer
36 views

Employer Letter for NRI Home Loan

Please advise: for an NRI working in US applying for home loan in India, Bank is asking for employer letter, latest salary revision letter from employer and employer ID card etc.. but if NRI is an ...
6
votes
1answer
128 views

ATM took in the money after spitting it out

I tried to use an Indian bank based (HDFC) Multi currency prepaid card in a Bank of America ATM to withdraw some cash. The ATM did spit it out but took it back in weirdly, looked much like it never ...
1
vote
1answer
36 views

Fixed Deposit or Recurring in ICICI

I live in USA and have no income in INR. But I keep transferring money to my ICICI account. I want to open FD/RD in ICICI. Q1: Which is better option and provide good returns between FD and RD ? Q2: ...
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votes
0answers
23 views

Interest on FD in ICICI [duplicate]

I live in USA and I have no income in INR. But I keep transferring some amount in my indian accounts (like SBI/ICICI). I earn interest on that amount. I think that is quarterly however I am not sure. ...
2
votes
2answers
28 views

Loan for Retired People in India

Is there a way to get loan for Retired people in India to buy a house? Can their working son or daughter being a NRI co-sign for surety purposes? Any bank or institution that you can suggest - thanks ...
-1
votes
0answers
51 views

I am filling out a W-8BEN from india

I am living india,I won a prize amount on a Software developer contest for building software. For getting the amount they have asked me to fill a W-8BEN form. in the form i have part I,II,III In ...
2
votes
1answer
71 views

Will it be taxable if I transfer money from UK account to India account?

I am a resident of India and currently in UK for 1 year on a work permit where I am getting salary in Pounds. My Indian salary has stopped till the time I am back in India. Now, I have a Home Loan ...
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votes
0answers
22 views

What is a difference liquid fund vs retail vs direct

While looking at many sub-schemes available under various liquid funds I realize there are three options are usually provided: XYZ Liquid Fund XYX Liquid Fund Direct XYZ Liquid Fund Retail For ...
1
vote
1answer
81 views

Can I file a NULL return in India?

I currently reside in the United States and I have been working here for about a year. However, my accounts in India are non NRE accounts and I have transferred about $20k to India within the last one ...
0
votes
0answers
23 views

Profit sharing on pagdi house

I have bough my 1bhk flat for 2lacs on pagdi system and now I want to resale it. How much share I'll get on profit if my house is sold for 12lacs.
2
votes
2answers
145 views

After my father's death, how can I transfer 50% of an account to my sister in the most tax efficient way?

My father has some shares in his demat account with me as a joint holder. He expired recently. Now I will have to transfer 50 percent of the total value to my sister. Will it attract short term ...
0
votes
2answers
59 views

Can I open a Demat account in India from abroad?

I want to trade Indian stocks online and will require a demat account with an Indian bank. I have my PAN number registered and all documents in place except the voting card. And I live in Nepal. Can I ...
-1
votes
1answer
67 views

If I receive 150000$ in my Indian savings account how much tax i shall pay?

My friend is planning to invest in India. So if he transfers around 150000$ to my account.. How much tax do I have to pay? Is there any way to show it as foreign investment? Can I include my ...
0
votes
1answer
37 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
votes
1answer
136 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
votes
0answers
53 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 ...
1
vote
1answer
89 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 ...
1
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2answers
136 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 ...
-1
votes
1answer
35 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
vote
1answer
40 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 ...
0
votes
1answer
51 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 ...
0
votes
1answer
88 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 ...
1
vote
3answers
314 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, ...
1
vote
1answer
63 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 ...
0
votes
1answer
69 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
vote
1answer
41 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
votes
1answer
114 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 ...
3
votes
2answers
73 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 ...
1
vote
2answers
293 views

How much tax should I pay in US on interest earned on my NRE a/c in India?

I am a person on H-1B who passes Substantial Presence Test. I have transferred money which I saved from my salary to my own NRE account in India. I think that I can transfer any amount without paying ...
4
votes
2answers
131 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
votes
1answer
55 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
vote
2answers
48 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
votes
3answers
84 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
vote
1answer
34 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 ...
1
vote
2answers
45 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 ...