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

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43 views

Sitting in India, can I buy goods from China on internet using a credit card, deliver it to USA and receive payments through western union from USA? [on hold]

I reside in India. I would like to buy goods in China through e-commerce (dhgate or alibaba) using my Indian credit card, and have it delivered to the USA for final sale. Further, I need to receive ...
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1answer
12 views

Regarding NRI Tax returns

My earnings for the below period as April 2014 till June 2014 in India, July 2014 till Jan 2015 in Singapore ( More than 200 Days ), Feb 2014 till March 2015 in India I'll be paying tax in ...
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1answer
25 views

Getting money paid to a US based bank account for Indian company based invoice

I work for an american company and I used to get paid before directly by check. But now, I am raising invoices (for the work I do) from my Indian company. Is it ok if the USA company pays the Indian ...
2
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1answer
31 views

From India, and also worked in Kuwait in 2014. Do I owe income tax in India?

I got a job in Kuwait and I joined on 03-09-2014. Earlier I was working in India and was paying my Income Tax regularly. Now I am sending Kuwaiti Dinars sometimes to my and sometimes to my wife's ...
3
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0answers
28 views

Indian resident owning dividend-paying shares in company based in France: Can I save on withholding tax?

I am Indian and staying in India. I am holding stocks/shares of a French company which is listed on the Paris stock exchange. Every year, the French company declares dividend on the shares, and on ...
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1answer
30 views

What is the best way to increase the earned money staying in US for an NRI?

Im living in US from last 1 year due to work assignment and will be here for another 3-4 years. What is the best way to earn interest on earned money? Shall I send all earned money to India ...
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1answer
17 views

Principal amount on house loan shown in saving 80C

I booked a property in April 2014. This property is under construction. I got a loan on this property and paid EMI from May 2014 with Principal amount and interest I want to know:- Can I get benefit ...
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0answers
27 views

Is there any bank which gives personal loans for employees whose salary is less than Rs.10,000? [closed]

Is there any bank in Hyderabad (or) India which gives personal loans for employees who have a salary less than Rs.10,000 per month ??
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29 views

Working from India in a US company

I'm a new grad, working on a contract position in US for some time now and my contract has almost ended. I got an offer from another company (X), which is quite small (an LLC) but with better ...
2
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1answer
36 views

Is it possible to receive online payment via paypal in india without creditcard

I have a paypal Premier account (Verified by PAN and bank account). I want to receive payments by selling web app on my website. But I don't verify paypal with credit card. I don't have credit card. ...
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1answer
36 views

Does Income tax deduct automatically by bank in India?

I have a savings bank account in India. I have earned some lakhs this year through some freelance work. I would like to keep that money in the bank itself. Do I need to manually do anything for ...
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1answer
49 views

NRE account in indian bank have to pay Income Tax in India

Please help me, i am working in Dubai base company and my work place is any other country Like Oman, Myanmar, etc. Only for work, i am going out side of India say 3-5 month/year. Company is depositing ...
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1answer
79 views

Is it worth using an online platform to invest in various fund houses?

According to this article, there are there approaches to investing: Approach the fund houses directly and create an account Approach a brokerage firm and create an account Approach an independent ...
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1answer
35 views

Indian Citizen Getting Paid for Working as Writer for US News Organization

I'm an Indian citizen. I'm doing a consulting role for a news organization in U.S. and getting paid on an hourly basis. The income would not exceed $1600 per month. The organization has asked me to ...
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2answers
70 views

What to do if your appraisal does not increase your salary after 2 years

When in fact other people are getting decent raise. What should a person do? When inflation in India is more than 8 % and no salary raise after two years what should a family man do? How do you ...
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1answer
39 views

Form 16 for 0 tax payee?

I have several questions regarding tax computation, Do we have 2 form 16 for a financial year? If his salary is below tax bar, will he get the form 16? If tax is paid for 3 quarter of a financial ...
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2answers
83 views

How prudent would it be to invest (stocks/equity) in businesses that are based on Cash transactions?

Most real estate developers and jewelers in India accept part if not the whole payment for property/goods in the form of Black money. These transactions are often off the books - should I look at ...
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1answer
47 views

HRA + Home Loan for under construction Property

I know this question has been asked many times earlier but the answers are too technical for me to understand. Request your guidance (at dummy level). I am living in a rented house. This year (F.Y. ...
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2answers
83 views

Tax Exemption on Home loan EMI in INDIA

I have taken a loan of 9 Lakhs for a flat for which I have take possession last November.What all documents will I need to get tax exemption. I have rented out this apartment. What documents will I ...
2
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2answers
378 views

My father, an NRI, sold inheirited land in India. He wants to move the money to the USA, with minimum tax. How to go about it?

I've read that it's possible for him to gift me the money, because I am a US citizen and he isn't. Would that be a viable option? It's a sum of 2 crore 15 lakh, so I'll have to file it. I'm not sure ...
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3answers
132 views

Explain me the benefit of insurance policy

I have taken a life insurance policy from ICICI called "ICICI Pru Saving Suraksha LP". The details of my policy is given below. Term: 15 years Premium Amount: Rs 50,000.00 Sum Assured: Rs 500,000.00 ...
2
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1answer
78 views

US tax Implications on (sort of) buying a house in India

I live in the US (a student on an F1 visa) and my dad, who lives in India, is buying a house in India. He wants to register the house in my name, just as a gesture. I am NOT investing any money in the ...
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0answers
68 views

401k Withdrawal In US, RNOR Status, and Tax in India

I have 401(K) account in USA. I am a US Citizen of Indian Origin. I plan to R2I next year. I am likely to be in RNOR status during the fiscal years 2015-2016, 2016-2017, and 2017-2018 I am aware ...
2
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1answer
60 views

How to register LLC in the US from India?

I am living in India. I have an online business with many clients in the US, and I want to register it as an LLC in the US. Which state is the best to register in? What is the process for me to ...
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2answers
63 views

Transfering money from NRE to saving account is taxable or not

I have an NRI status. If I open NRE account(Yes BAnk) and transfer euros to this account from my overseas account. I understand its non taxable. My question is, if I transfer money from my NRE ...
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1answer
59 views

Capital gains on sale of property taken using housing loan

We bought a house for Rs 40lakhs/- by taking housing loan for Rs 35lakhs/-, however the property was registered only for Rs 15lakhs/-(this is the amount in the sale deed).Now we are planning to sell ...
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1answer
21 views

Remit money from US to India from my travellers account

I am living in the US for a short duration and I have a travellers credit card with one of the banks in India which was provided to me by my company. I want to transfer around $2000 to another bank ...
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1answer
40 views

Right way to get paid from US company to India Company

I am a US Citizen and have moved recently to India and started my own company. My Client is in US has asked me to Fill W8-BEN form. I want to check will W8-BEN be applicable to my Indian company and ...
2
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1answer
43 views

Legal requirements to sell design content, artwork and also freelance in India?

I want to start a website where I can sell my digital artwork, 3D models etc at the same time use the site to get freelance graphic design work.I know how to go about it technically but what are the ...
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2answers
66 views

How to get money from India to UAE

I have taken 25 Lac loan in UAE country and remitted this money to my mother SB account through Exchange. She withdrawn that money and used for personal commitments and bought one property. Now due to ...
2
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1answer
72 views

233 days India/132 days US - entire US salary taxable in India?

I was living in India for about 7 and half months in FY2013-2014 working as an independent consultant for a US company. I moved to USA for employment on Nov 20 2013 to work as an employee for the same ...
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1answer
33 views

Can i avail rebate on Home loan interest without sale deed and registration

I have booked a flat in June 2011 and taken loan from bank. I am paying EMI since August 2013. Physical possession of flat given to me in November 2014 but sale deed not given to me by builder till ...
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1answer
54 views

Managing account other than salary account

I have a salary account in one bank and a separate saving account in other bank but i dont show my saving account details in ITR will it affect me in future.
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2answers
114 views

I have forgot my bank account number; how do I regain access to my account?

I have forgotten my South Indian Bank account number and cannot find where I stored it on my hard drive. What is the procedure I need to undergo to reconnect with my account? What information will ...
0
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1answer
95 views

Do I need to pay income tax for money earned in the U.S. & transferred to my account in India?

I have a web site which generates around 10K every month. This amount is directly credited to my bank account from Google USA account. Do I need to pay tax in India? Please advise. I am very new to ...
3
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1answer
127 views

What is a best way to take earned money from abroad to India?

I am a Indian citizen. I am going to work in UK for some years. I am looking a best way to send my earned money to india. the options are, 1) Saving the whole money in UK and get back all in a bulk, ...
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1answer
81 views

send money from US to India in parent's saving a/c

If I send money from US to India in my parent's saving account will I have to pay tax in India?
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1answer
48 views

How to pay the due amount after fiing the IT returns in India

For the AY 2014-2015, my Tax Payable is INR 8500. Thinking that I would get an option to pay online while submitting, I submitted the IT returns. Obviously, I didn't get an option to pay the due ...
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1answer
38 views

How can I reduce transaction fees, such as CA certificate costs, on several wire transfers per week?

My country of resident is India. I have to send frequent wire transfer to workers based in other countries. Bank charges about Rs. 1000 per transaction and CA Certificate for Form 15CB costs Rs. 2500 ...
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1answer
107 views

Selling Property In India

Bought a under construction property on H1B (USA), got permanent residency in 2010, got house possession in 2011, paid the house now through a NRE/NRO account, if I sell the house now, what taxes I ...
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1answer
40 views

How to buy Gold ETF is India?

How to buy Gold ETF in India? Are they the best way to invest in Gold? Are there any other options
2
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1answer
91 views

Selling property and transferring money

I purchased a property in India 3.5 years ago. Part of the payment is done from an NRE account and for financial year 2013-2014 paid using a local RS account because I was working in India. I've ...
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1answer
77 views

Freelancing from India to US employer: Can they deposit pay to my US Account?

I recently moved back to India from USA as I didn't get H1B Visa. I have started working for same company from India as a contractor. I still have my bank account active in USA. Can my company ...
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1answer
46 views

Advantages and disadvantages for Hp gas and indane gas [closed]

I'm in bangalore city in India. I wish to take a new gas connection. I wish to know the advantages and disadvantages for Hp gas and indane gas. Any suggestions would be greatly appreciated.
2
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2answers
88 views

Legality of facilitating currency exchange between private accounts

I have accounts in India and the UK. Similarly, a friend has an account in each country. If I am in need of some money in GBP, I could receive money in my UK account from my friend's UK account. I ...
2
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1answer
97 views

Sending income and lottery prizes to Tamilnadu, India from Singapore

I recently came to Singapore from Tamilnadu (India) for a 12 month project assignment and will be earning amount in SGD in Singapore. I came to Singapore via Employment Pass (EP). I have two ...
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1answer
37 views

Factors to consider to take a health insurance policy in India

I am interested to know about the Health insurance policies in India. I am Single and my age is 24. I would like to cover it up for my parents too. (They are in their 50s) I would like to know what ...
3
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2answers
147 views

What are the tax implications of selling shares inherited by me from my father and sharing the proceeds with my sister?

My father passed away recently leaving behind 65 lakhs in shares and 25 lakhs in FDs (Fixed Deposits). I am the joint holder in both the shares as well as the FDs. This amount has to be shared by me ...
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2answers
279 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 ...
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1answer
90 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 ...