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

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60 views

I was in USA for 4.5 months in 2015 and am married. Should I file my tax return as single or married?

I came to USA in Aug 2015 from India and am married. Should I file my tax return as single or married?
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1answer
74 views

Moving to USA. Already invested money in mf?

I will be travelling from India to USA on H1B visa, for a long term assignment (starting april-16). I have invested in Indian equity mfs from my Indian salary savings. Want to know if my going-to-be ...
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1answer
27 views

How can I receive foreign funds in my account in an Indian bank which lacks a SWIFT code?

I'm to receive some money in USD from a company directly to my account. I'm a resident of India and the branch where I have my account doesn't have a SWIFT code. The company will not give the money by ...
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1answer
22 views

Is UK income which is exempted in UK taxable in India

I am a Indian citizen working in UK on a work permit. My salary in Uk is 36000 pounds.I have heard that in UK salary of 10500 pounds is exempted from tax and my company is paying tax on the remaining ...
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1answer
54 views

Salary earned in GCC, transferred to India, subject to Indian income tax?

My friend and I have worked in a GCC country for the last year. We are from India. We both send our salary into a friends account in India and then transfer an amount to our own accounts. Is it ...
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2answers
35 views

How to pay remaining tax after notice u/s 139(9) of income tax act 1961?

I got notice u/s 139(9) of income tax act 1961 due to tax payable issue. Now, I need to pay payable tax online. Here, my question is : How to pay remaining tax online even after notice u/s 139(9) ...
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2answers
10 views

Taxation on income sending from Hong Kong to India savings account

I am working in Malaysia from last 1.5 years, my company transferred salary from Hong Kong to my Indian savings account from last 18 months. Do I need to pay tax on this? All my funds transferred ...
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2answers
38 views

Transfer cash from india to US

I moved from India to US on H1B last year. I have landed some money to my brother for some business without any interest. Now I would be receiving that money back from him. I need to transfer that ...
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2answers
48 views

Can I receive a small amount of money (<5$) without pan card on PayPal in India?

I am from India. I have a PayPal account with verified phone no. and email, but I don't have pan card / debit / credit card. So if someone sends money , can I receive that money without them? I don't ...
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1answer
26 views

3rd party remittances to NRE/NRO account

On my recent visit to the bank, I was told that money coming into the NRE account can only be foreign currency and for NRO accounts, the money can come in local currency but has to be a valid source ...
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1answer
12 views

In India, what taxes can be offset against the taxes that you have already paid to vendors?

As per my understanding - if I have billed my client Rs 7000/- as service tax and I have paid my vendors Rs 3,000/- in service tax. I would only have to pay Rs 4,000/- as service tax. Does this hold ...
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2answers
110 views

Can I get 'True Copy' of my Passport from IRS offices through my friend who is visiting US?

I am an Indian citizen, living in India. I have some contest winnings from the U.S., and as a result, I have to file a U.S. tax return. For this, I have to get an ITIN. Getting a 'True ...
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1answer
99 views

H1B Visa holder - Transferring Lottery Winnings to India Legal or Illegal?

Currently, I am working in USA on H1B visa. I came to US in JAN 2015. So for income tax purpose, I am Non-Resident Indian for financial year 2015-16. I have query regarding lottery winnings outside ...
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1answer
81 views

My pf no on salary slip is MH/PUN/ Can anyone tell me how can I get UAN no if combination for Maharashtra-Pune becomes PU/PUN UAN Member Portal?

I work in India, Pune. I want to generate UAN [Universal Account Number] allocated to track the PF [Provident Fund, Govt. Pension scheme]. I was using government site Employee's Provident Fund ...
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1answer
35 views

Working out of India for UK company from 1 Jan 2016 on contract

I am working for UK company from India as a contractor from 1 Jan 2016. UK company will pay me in pounds. My query is what is best approach to get money in India? I was given few suggestions Work ...
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1answer
86 views

Extra amount credited to my foreign currency account and mistakenly I spend it. What should I do? [closed]

I deposited some thai baht into my foreign currency account in india which amounts to Rs.250000 but in my account the same amount was credited three times and from different person. My initial deposit ...
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0answers
27 views

Liquid fund and short term capital gain tax

In India, there is long/short term capital gain tax. For debt mutual funds, short term capital gain tax is applied if the fund is redeemed within 3 years and it is equal to investor's income tax slab. ...
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1answer
53 views

Transferring proceeds to USA from real estate sale in India

First off, I am an US Citizen currently living in the US. I bought a property in India in 2000, when I was not a US citizen but was still living in the US. Over time it has appreciated and now has ...
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3answers
45 views

Why does the Order Validity matter when selling shares?

In India, with ICICI Direct (An online trading platform), it is possible to specify the "Order Validity" as DAY (Intraday), IOC (Immediate or Cancel) which is being able to sell the shares when I ...
2
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0answers
72 views

Where do I pay income tax and how?

When I was in the US before, I worked for a company as a independent contractor under 1099. Now I've come back to India, and I am still working for that same company. The company deposits my pay in my ...
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1answer
27 views

sending money to india through NRO account is taxable?

I need to transfer money from my Saudi account (NCB) to India through my own NRO account. Should I have to pay tax for this transaction?
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1answer
120 views

Can i know the place where we can buy the stocks and bonds?

What do I need to trade in stocks and bonds.I don't know the actual place where it happens ( is it in banks, or some other place) and I don't know what is the process to hold and sell the stocks.
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2answers
50 views

Stocks in India, what is the best way to get money to US

I am in US for last 10 years. I bought few stocks in India when I used to work there. I never operated the stock (demat) account (never sold or bought) since I moved here never reported them on my ...
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1answer
69 views

I only know folio number and do not have any document regarding my share

My father have bought shares of a company and he does not remember anything about it. I just got a dividend cheque from the company which consists of folio number. How can I get information about ...
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1answer
32 views

US Salary Transfered to Indian Acc and Tax Relation

I am on H1b , working in US at client location. I have transferred an amount of approx 15-20k$ to Indian Account (not NRE). How would it effect my Tax in US and India. How can I avoid tax the money ...
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1answer
57 views

Credit card for low CIBIL Score? [closed]

I have CIBIL score of 628. I want to improve it using credit card. I applied in one bank but they declined it. Is any bank provide credit card for this score in India?
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1answer
50 views

Company publishing Standalone but not Consolidated financial results

Some companies publish Standalone result time to time but not consolidated result. Ex- ABC company is publishing Standalone quarterly results ,but not publishing consolidated result since last 2 ...
3
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1answer
505 views

Do I need to declare the Rental Income from property in India while filing US Federal Tax?

Say I own a couple of units in an apartment complex in India and they were purchased in part by using inheritance (property) and in part by cash (funds from US). If the units are currently rented ...
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2answers
90 views

Zero volatility stocks in intraday trading in India

I am an intraday trader in India. Out of 150 stocks which are permitted for intraday trading on NSE or BSE I would like to know of a way to find out which stocks have close to zero volatility. My ...
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1answer
171 views

Personal Loan without CIBIL check? [closed]

I have Low CIBIL score. Its take another 1 year for me to improve CIBIL score. But now I have to apply for a loan Rs.100000. I am salaried employee in private sector. And my CIBIL score is 628. Is ...
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1answer
41 views

Demat & Trading account will reduce Cibil score?

I have opened Trading Demat Account before 2 years. But i used only 2 months. Will it reduce cibil score?
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2answers
72 views

Are AAA private-sector corporate bonds safer than government bonds?

Conventional wisdom says that government bonds are the safest investment there is. But the Indian government is rated only one level above junk. Aren't AAA-rated bonds of Indian companies safer? ...
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1answer
25 views

How does TDS on FDs work?

I know TDS happens on accrued interest. If I have a 5-year FD, the bank deducts TDS every March 31 for the interest accrued in that financial year, though I haven't received it yet. But what about ...
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2answers
53 views

Money transfer to US from NRE account

I am planning to transfer money > 100k from my NRE account to my US checking account. The money in NRE account was transferred from USA account couple of years back. I am already paying tax in US ...
1
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1answer
64 views

Investment in mutual fund in India for long term goals

I am first time planning to invest in mutual funds. My goal is long term investment. I am 32, married & from India. I would like to invest Rs 10K per month in SIP mode. On reading couple of ...
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1answer
61 views

How Secure credit card Increase Cibil Score?

I have Low Cibil Score(628). Take Example, I buy secure credit card say for Rs.25000, and i get Credit Limit as Rs.20,000.I do use Secure credit card 50% every month.And i pay EMIs correctly. Than ...
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1answer
24 views

Tax management while working with freelance website

What is good approach to save and be safe side while working with freelance website. I work with my partner and currently we transfer all earning on my personal bank account. Can this create any ...
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1answer
32 views

Should a SIP as spread out as possible, or minimize time spent by money in savings accounts?

In the context of India, where money in savings accounts gets 4% interest (tax free for me) per annum, and SIP frequency doesnt affect my transaction costs in any way I'm trying to understand, which ...
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1answer
47 views

Implications of freelancing as an independent contractor from India for a U.S. company?

I have an independent contractor agreement and am paid by a U.S. company in dollars after I invoice them. I have the following questions. I am in India, and am working from India for the client. Do ...
0
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1answer
74 views

What has been the worst return ultra-short-term funds have delivered?

What's the worst performance any investor has seen? A 1% drop in value? 2%? I know that liquid funds have seen as much as a 0.4% drop in value in a single day. Since ultra-short-term funds are ...
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1answer
23 views

Can I sell section 54EC infra bonds before maturity?

This question pertains to section 54EC infrastructure bonds that are offered in India — the ones with tax-free dividends (though the principal is taxed). I have invested some money in NHAI and IRFC ...
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0answers
47 views

How safe are liquid funds?

This question pertains to India. Have liquid funds ever suspended or limited redemptions? Or, worse, gone bankrupt? What has been the worst fall in value any investor in a liquid fund has faced? ...
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2answers
26 views

Are there any hedged international funds in India?

I live in India, and want to diversify into the foreign equity market, via a mutual fund offered in India. But I don't want to take on the currency risk. In some countries, funds are offered that ...
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2answers
97 views

How do I calculate what percentage of my portfolio is large-, mid- or small- cap?

I live in India, I've invested in some equity mutual funds (that invest in the domestic market). Each of them has some money in mid-cap stocks and some in large-cap. In fact, one of my funds was ...
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3answers
128 views

Is it a good idea to rebalance without withdrawing money?

Rebalancing is generally done by withdrawing money from investments that have a greater percentage of your money than you want, and putting it in investments where you're underweight. An alternative ...
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1answer
50 views

Cheque payment from NRE account to another person NRE account is it possible?

I am going to take a temporary loan from my friend, He will be giving me money in Dubai and I will send that money to my NRE account in India. After two months I want to pay this back through my NRE ...
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18 views

Is form 15CA/15CB to move money out of an EEFC account in India?

I would like to know if 15CA/CB is required for outward wire remittance from an EEFC account.
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1answer
118 views

What percentage of my money should I invest outside my country?

I live in India, and invest in both Indian and international equity mutual funds[1]. What percentage of my portfolio should I invest outside India? I thought that since India's GDP is some 3% of the ...
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28 views

Are there are widely accepted criteria on when a fund is under-performing enough to exit it?

I'm told that once I invest in a fund, I should periodically (like annually) monitor the performance of the fund and exit it if it's consistently under-performing its index or the median fund in its ...
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1answer
87 views

Can my friend send money (from a different country) to my NRE account?

I have an NRE account and I am saving completely through that account. Now one of my friends is working in Saudi Arabia and has to pay some money to my NRE account, which I opened from Dubai. Is it ...