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

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1answer
11 views

how long does it take to transfer funds from India to uae through bank transfer?

I want around 6lac rupees transferred from a regular savings bank account in india to my account in UAE, how long will it take? and can i tranfer this amount through western union?
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1answer
16 views

Starting a restaurant in UAE and need a working capital. How can I transfer money from a person who stays in India

I had already invested 1.5 lakh dirhams in UAE for a restaurant and need more working capital. Unable to arrange funds in UAE. Some people are ready to fund me the capital which I need from India at a ...
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1answer
6 views

NRO account Tax related

I have NRI/NRO account in India from this NRO account I pay to some SIP funds every month. So for this SIP fund's interest how income tax will be calculated I have confusion so pl. help by giving ...
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0answers
33 views

Tax on a sum of 50 lakh [closed]

My father is 69 years old and was a farmer and suffered stroke a year back. Now he is paralysed. We have sold some farm land for his treatment for 65 lakhs. We have got only 25 lakhs in cheque and ...
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1answer
24 views

large recurring transfers of to India from US and/or taking Indian mortgage

I am a US citizen and have lived in America my entire life. My wife is an Indian citizen is in the US on a Greencard (K1/fiancee visa) for the last few years. Before marriage, when she was in India, ...
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0answers
11 views

Will I have to pay tax in India for the money I earned in the us?

What is the rate of income tax in the united states? For example- I am a resident alien. I earn around $50k(33 lakh)per annum. As I am a citizen of India. Which government should I pay my income tax ...
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1answer
18 views

Can I specify lumpsum investment that I have decided to make in this year, but not yet done

I live in India. If I have decided to perform investment of 50000 INR in this year in say ELSS. But I want to perform it as a lumpsum investment, instead of SIP. I want to spread the investment in 4 ...
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0answers
31 views

Company Leased Car - Transfer from a colleague

An employee in my org got a company leased car and he is planning to transfer the lease. EMI: Rs. 15300 Tenure: 60 months Already paid 25 EMIs = Rs. 382500 Remaining 35 EMIs (that I'll need to pay) = ...
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0answers
26 views

1% TDS on immovable property for multiple buyers

http://blog.tdsman.com/2013/11/will-transactions-one-buyerseller-filed-form-26qb-tds-immovable-property/ Above link tells that Online statement cum Challan Form/ Form 26QB is to be filled in by each ...
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1answer
16 views

Address change for Mutual Funds, Demat and NPS in India

Does it mandatory to submit three address change forms for the DEMAT, NPS and MF's? Since all the three data is maintained by cvlkra under the same PAN and the form is also same.
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0answers
24 views

US Tax Return Forms to fill for NRE Account

I am really confused about what forms I have to fill and submit for my 2015 Tax return in USA. I am an Indian lived in USA for whole 2015 tax year. I have a joint NRE account with my spouse in India ...
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1answer
22 views

W8-BEN for an Indian Citizen

I am a participant on an online website, where you enter into contests where you suggest names for businesses, and if you win, you get paid. I am based in India. I have just won my first contest, and ...
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0answers
38 views

Without my consent can my father give away his part of property joint-owned with me in Mumbai

Can my dad give away his part of property joint-owned with me in Mumbai without my consent? Can he make a will where he has put such an instruction? This is with respect to Mumbai India
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0answers
32 views

How to fill out W-8BEN-E form as a Private Limited Company in India?

Being the owner of an Indian Pvt. company I need to fill form W-8BEN-E as we raise invoice to our US Based client for software services. My question is : What should I fill under PART 1 Chapter 4 ...
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1answer
20 views

Dividend in Index fund in India

Do the customers get dividend on investing in Index fund in India? I searched on net but could not find anything useful!
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1answer
69 views

What are the tax implications of working as a consultant in India?

I'm an individual mechanical engineer. I have been offered a consultant position with profit sharing in a company located in India. I too am from India. My nature of work is to provide engineering ...
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0answers
53 views

Consequences or questions when receiving large amounts from money from India to US

I would receive large amounts of money to my account here in US, what are the consequences/questions that i would face in this situation? Talking about the amount, lets just say it will be more than ...
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1answer
46 views

Is mumbai thane district flat property ownership name available online?

I own a flat in Thane District near Mumbai. I would like to know if I can look up the ownership record online if I enter the address on a government provided facility. Is such a facility available to ...
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1answer
77 views

How much does it cost for a eviction lawsuit in Mumbai?

I have a tenant who is refusing to leave. He has not paid any rent. How much will it cost to evict this tenant? How much can i expect an attorney to charge me for court proceedings and how much will ...
2
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1answer
53 views

Do i need to pay taxes if i stayed more than 183 days in financial year?

Date of entry - 17 Nov 2013 No. of days in India - 231 No. of days in USA - 134 For duration of US stay, I got regular pay with all tax deduction. I did file US tax returns for 2013. By Indian tax ...
1
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1answer
14 views

Foreign Exchange rules INDIA

Hi I want to buy some hosting space for my website and for that I have to pay the hosting co. in dollars can anyone tell me what are the regulations and compliances I need to follow.
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1answer
25 views

Global Income tax in India & tax credit

I am Indian citizen who was working in US from 15/11/15 to 31/03/16 i.e 137 days, that means I am resident tax payer like all other Indian citizens for FY15-16. As per tax treaty they clearly mention ...
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1answer
32 views

What kinds of charges/fees are there for NRI Home Loan from SBI?

I have questions regarding Home Loan that I am taking from SBI. When we(my spouse and I) initially went to the bank, the SBI, the NRI Branch manager told us about all the procedures for an NRI Home ...
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1answer
217 views

What can happen if I do not pay $735 for my negative balance to PayPal?

I have a negative balance of -$735 on my PayPal account. What can happen if I do not pay $735 for my negative balance to PayPal? Please suggest me that PayPal can take any legal action to me. I am ...
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1answer
120 views

What are the taxes in India on a transfer of a huge amount like US$10,500,000?

If someone transferred a huge amount into my SBI bank account, what taxes do I have to pay to the government of India?
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4answers
191 views

Is it advisable to go for an auto loan if I can make the full payment for a new car?

Planning to buy a new car in India. Options I have are as follows: - Company leased car - Direct Auto Loan from finance company - Full one-shot payment from savings From all the articles I've ...
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0answers
74 views

Repay My loan to my relatives for school debt

I am an international student from India studying at the United States. I have taken a loan of around 40,000$ from my relatives in the United States for my studies. Now I am looking to repay my loans ...
2
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1answer
46 views

Assessment year for ITNS 280 Challan

For filing self assessment tax under ITNS challan 280 during current financial year 2015-2016 what will be the assessment year 2015-16 or 2016-17 ?
3
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2answers
164 views

Will my money be safe in my trading account during a market crash?

I am an options trader. Imagine when I am peacefully trading on my trading account with my broker, the market collapses and causes a recession or depression. Now can I continue to trade during the ...
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2answers
1k views

Should/How I pay tax return in US for last year even after I moved permanently to India?

I'm in a situation where I left the U.S. last year in April, 2015. I worked in the U.S. until March 2015, so I received a W2 for the year 2015 from my US employer. But since April 2015, I'm back in ...
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1answer
29 views

Need help understanding terms related to PPF (Public Provident Fund) in India

ICICI Bank in India provides a PPF Scheme which offers an attractive 8.7% PA. I was trying to figure out the interest that I could earn by using this PPF calculator of theirs. There are a couple of ...
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2answers
106 views

Reason to give for personal loan in USA to buy land in India?

I am buying a land in India for that i need personal loan for about 15k. I am not sure what should be the good reason to give to credit unions to get the loan approved. Please suggest and thanks in ...
3
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1answer
46 views

Do I have to explicitly apply for claim of tax rebate u/s 87A in India

In Budget 2016, Indian Finance Minister increased the tax rebate under section 87A from 2000INR to 5000INR. The section 87A says following: The requirement to avail tax rebate u/s 87A ...
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1answer
29 views

How to fund my option house account(trading account) from india using a local bank?

I would like to know how to fund my option house account(Trading account) from India ? Option house is a US based brokerage firm Why would an Indian citizen need to fill up form 15CA & 15CB ...
2
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1answer
40 views

Penalty paid on tax return do i need to amend/modify any changes online

I filled my last year's return only and I got penalty for some amount. I paid that penalty amount but wondering do I need to amend/modify any changes online in my last year's tax return or anything ...
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1answer
26 views

Are mutual funds allowed to trade intraday in india?

Are mutual funds allowed to trade intra-day in india?
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1answer
57 views

Will Indian young ones lose 18% of their EPF with new tax as per Budget 2016?

Indian budget 2016 has one change to Employee Provident Fund. As per the news it says It is only the interest on contributions made after April 1, 2016 which will be taxed The same is said in ...
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1answer
36 views

Money transfer from UK to Indian bank account?

One of my friend is sending 100000 pounds to India, I have a bank account with Canara Bank here in India. He is asking for RIB and IBAN and I am not aware of it. Kindly tell me how to find this or ...
2
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1answer
60 views

Transfer from Paypal account to NRE account in ICICI Bank

I am a Indian national and currently an NRI in another country. I have created a paypal account, added my PAN details and put in the details of my NRE account. But the transfer did not happen and I ...
5
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1answer
87 views

Does Investing in commodity helps to build home

I am from India. I have plan to build new own home next year. Now commodity price for metal (steel) is less than past years. Is it worth to buy steel from commodity now, then Is it possible to switch ...
3
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1answer
162 views

What are the requirements to gift $10000 from USA to my sister in India?

I am working in USA on an H1-B Visa. I want to gift $10000 to my sister in India. Her lawyer in India said I should also provide this in writing in some kind of bond paper. Where do I find a bond ...
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1answer
49 views

What could be the best tax saving option before a month of financial year end

I live in India. I am in 250000-500000 tax slab (10%). This year I will be paying approx 11000INR tax. So to get it refunded I have to investment of at least approx 100000 INR. I was wondering what ...
3
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1answer
33 views

How should get my PPF fixed

I opened (first) PPF account in Union Bank of India at City X-branch (I live in city-Y which is away from city-X by almost 3 hour travel by railways) where my dad used to work. Now he is retired so am ...
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1answer
43 views

Transferring Money from UK to India

I am an Indian citizen and working here in UK from last eight months (June'2015). I get salary after tax deductions as per UK law. I want to send some money to Indian in my saving account but I ...
3
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2answers
186 views

Money transfer from India to USA

My daughter is a US Citizen. We (parents)are also planning to permanently settle in US. We will go their as Permanent Resident,as per US Law. We have a house here in India worth Rs.2 Crores. We want ...
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1answer
36 views

Property purchased for residence abroad

If I am residing in the US but I purchase a secondary vacant property (residence) abroad (India) for my own personal use (not for rent), and pay the property tax to the Govt of India, then do I still ...
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0answers
34 views

USA taxes for foreign contractor- FW8BEN FORM

I work as an independent contractor (providing personal engineering services) from India for a a USA based company. I receive around 15000$ yearly directly credited to my Indian bank account. I ...
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0answers
48 views

Sending money from India to USA (INR to USD)

I am an independent researcher from India and want to publish my dissertation in a US based publishing organization.The cost for publication is US$ 25, which they accept only via money order or check. ...
0
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1answer
73 views

Taxes paid in USA for sending money to parents in India

I am on H1B visa for 5+ years now. I wanted to send money to my parents in India which is about $50,000. Am I subjected to taxes in USA? My parents are citizens of India.
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1answer
35 views

Double Taxation | Residency Status

Currently, I am in US. For this year's ITR, I have a question on double taxation. I left India on 4th Sep, 2015 and came back on 16th Dec and left again on 29th Dec for US. Now, I am coming back on ...