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

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4answers
173 views

If a stock has only buyers and no sellers how does its price go up?

I have been watching a stock for the past month. Nobody has been selling it, but every day the price has increased. If there are no sellers, it means there is no trading happening, so how can the ...
3
votes
1answer
34 views

Long Term capital gain tax for selling land abroad

My husband and I are currently in the US and pass the substantial presence test for residence (31 days in 2015 and 183 days on the whole) We want to sell a self acquired property purchased in the ...
3
votes
1answer
54 views

Do European options have to be exercised at a specific time on Expiry day?

European Options as compared to American Options can only be exercised on a certain date. As I want to start writing options, I want to know whether it can be exercised by the buyer at anytime during ...
0
votes
1answer
16 views

What IT form to use in India?

In Previous Year 14-15, Assessment year 15-16 I have income from salary income from two house properties income from Capital Gains Income from other sources income/profit from business What form ...
-2
votes
1answer
64 views

Gifted money invested without tax?

If I gift $10k to my parents (parents are indian citizens, so am I) in India, and they use it to invest. Will that investment be taxed in USA? Taxed in india if kept long term? Is this a tax loop-hole ...
2
votes
1answer
25 views

FBAR needed if I wire transfer in installments?

Lets say I want to send $24000 to my parents account in India from USA. I will first transfer in NRE account. Then move money from NRE into my parents account. If I send $8000 to NRE, move it into ...
1
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1answer
19 views

Filing FBAR if I wire transfer to my parents Account?

Do I need to file FBAR if I send $25000 to my fathers account in India?
2
votes
1answer
71 views

Selling my earned dollars to someone in US for rupees in India

I am working in US as a resident alien. I have few dollars in my bank account in US. If I give some dollars to a friend in need in US and he deposits equivalent amount in Rupees in my Indian bank ...
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votes
0answers
32 views

Will be eligible For Home Loan To purchase Brothers Share in Built Up Home? [closed]

I am from India.There is a property on both brothers name. I want to purchase my brothers share for the said property. Will I get home loan to purchase his share? Regards Sachit
0
votes
0answers
19 views

Help required in filling up of form W8 BEN-E [closed]

We are an India based Pvt Ltd company and have been asked by our client to fill up this form for payment. Please help with the answers to the following questions. Is 9a/10 in Part I compulsory or ...
2
votes
1answer
18 views

Indian working in the US Tax filing as Resident in both countries

I moved to the US last October from India, I had spent more than 180 days in India during the Financial Year 2014-2015. I am also eligible to be treated as a Resident for tax purpose in the US as I ...
0
votes
1answer
25 views

If an Indian resident earns any income in the USA is he liable for double taxation?

I plan to work in the USA for 2-3 months then come back to India. In this case is there tax liability both in the USA and India?
1
vote
1answer
16 views

Tax in US or India

I am Indian citizen and living in US on H1B and have been paying taxes regularly in US. Now I want to start investing in Indian Stocks. If I make profits in Indian stocks where should I pay the taxes, ...
-1
votes
1answer
23 views

Which is the best place to invest small savings in India [closed]

If I want to invest small amount of money like 50k rupees in India, which is the best place to invest?
1
vote
1answer
42 views

Pre-Emi Calculation

I would like to take home loan for under-construction building in India. Completion time will be 30Months. How do I calculate pre-emi, if I take the home-loan of Rs.60L for 15 Years with an interest ...
1
vote
1answer
27 views

How to calculate and pay tax for Jan to March abroad income for resident indian

I moved to US in October 2014 end which makes me resident Indian form Indian taxation perspective. I paid my US tax for the income of October, November and December 2014. Now while filing India tax, i ...
2
votes
2answers
52 views

My query about my CTC, Gross salary and net pay

I am working as Software professional in reputed private concern. After one year of my successful completion, they offered me 3 lakhs per annum package. But I am getting only Rs 20606 as net pay per ...
5
votes
1answer
40 views

Applicability of form W-8BEN-E / W-8BEN to an Indian citizen

I am an Indian citizen residing in India. I have started working as a consultant for a US-based company since June 2015. I have submitted my first invoice to the company (I will be getting paid in ...
1
vote
1answer
40 views

Is there any tax in India for money from Saudi Arabia

I work in Saudi Arabia, I took a loan here, nearly 10 lakhs Indian Rupees (1,000,000 Indian Rupees) and already transferred to my NRE account in India. My questions are: Is this amount taxable in ...
1
vote
2answers
65 views

Offshore Bank account with Online International Wire-transfer facility for Indians

I am freelancer having Indian nationality and residing in India. I own and operate Sub-Affiliate program of US based company. I have Bank accounts in India which operates in INR (Indian Currency). ...
3
votes
1answer
68 views

Sending money as gift to India from US

So, the story. A Indian citizen is working in US and is earning a lot of money. If he transfers 10K USD to parent's account in India as "Gift", then he can claim that amount to be tax exempted in US. ...
1
vote
1answer
26 views

In which infrastructure bonds should one invest to avoid capital gains tax after selling a property in India?

This is a follow-up question to Taxes on sale of property What are the available infrastructure bonds and can one withdraw that amount at any moment or some lock-in period is there? How capital ...
1
vote
2answers
120 views

Should I invest or repay my debts?

I work in an IT firm company with an average 10% annual hike. Currently I save around 35,000 rupees per month. My family has a debt of 19,00,000 rupees. For the next 5 years I do not have any major ...
2
votes
1answer
67 views

Loan from friends living abroad

My friends living abroad [non Indians] are ready to provide me financial loan for the purpose of education of my children. If this money comes via inward remittance, what should be the appropriate ...
1
vote
1answer
38 views

Need suggestion regarding tax relief under DTAA

Need some suggestion on the tax relief under section 90 of Income Tax. I was deputed in USA during the period of Jan-2014 till Aug-2014. During this period my salary (Indian salary converted to $) ...
1
vote
1answer
62 views

Pay Outstanding demand

I got an outstanding demand for the AY 2009-10 under section1431a, i paid that now when I open the site it is showing another outstanding demand under section 220(2). I think this amount is the ...
1
vote
0answers
43 views

Indian Citizen and living in Uk and doing Free lancing

I moved to UK in Aug 2014 as my husband's dependent and now got an offer from a freelancing company. They want me to setup an account in UK so that they can do payments in pounds. I am moving back in ...
2
votes
1answer
40 views

Tax on Sale of Property

My uncle has sold his property and he deposited the money he received from selling the property. I like to know, if he keeps that amount in his bank account for an year, will that money be taxed? He ...
0
votes
0answers
22 views

What has been the inflation-adjusted rate of return from various asset classes in India?

I'm looking at equity, FDs, liquid funds, real estate. I'd like this information for various time periods, like 5, 10 and 20 years. I'd like both nominal and real returns. I've looked but couldn't ...
1
vote
1answer
20 views

Can PPF be withdrawn by NRI or Overseas Citizen of Indian origin

I want to invest in PPF, however i might move out of India permanently(read overseas citizen of indian origin) or earn NRI status. Will I be able to withdraw the money upon maturity after 15 years?
2
votes
1answer
31 views

Income Tax rebate on Housing Loan on rental property and HRA rebate?

I had purchased an under construction Flat with loan of 30 lacs in Indirapuram, Ghaziabad in Year 2011 for which I got possession in June,2015. I am staying on rent in East Delhi and claiming HRA ...
0
votes
1answer
32 views

Starting a LLC in the US from India - Am I self-employed or salaried?

I am Indian and I am planning to form a LLC in Delaware for my web development business (it will not have any physical presence in the US). It will be single member LLC to start with. So in India ...
0
votes
1answer
30 views

How to Receive US Dollars for my savings account

I'm Planning to open-up a small consulting firm in india. I need to know is there a way to open up an US bank’s account in my name in USA, without being physically present in US or visiting US? ...
1
vote
1answer
27 views

Tax implication In India

My husband arrived in USA (California) in Oct 2014 for the first time . For Year 2014 we were considered as non resident alien (for tax purpose I guess). We have filed for the income tax in USA and ...
0
votes
0answers
82 views

How much maximum money can transfer on regular base from USA to India?

I have 3 questions to avoid IRS penalty- I am on employment based visa in USA and want to send dollars from USA to India from my savings (after paying Tax). How much maximum dollars I can send in a ...
1
vote
1answer
41 views

Fund transfer from NRO to NRE a/c

I have transferred money from overseas to Indian savings a/c. when I went back to India I have opened NRE a/c and status of my savings a/c changed to NRO a/c. My question is can I transfer fund from ...
1
vote
1answer
47 views

Q2 income and TDS on TRACES form 16 includes only July salary?

My current employer has deducted TDS in July by error. I am below tax bar, so on my TRACES form-16 "amount paid" or "TDS" for Q1,Q3,Q4 TDS details are not mentioned. But it mentions only July's ...
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votes
1answer
113 views

Is it a good time to buy gold [closed]

I live in India and currently the gold prices have dropped. Is it a good time to invest in gold now or should I wait. I have checked the rates and they are Rupees 2500/gram
3
votes
1answer
69 views

Income tax in India for NRIs in USA

I left India on 8th October 2014 and started working in USA from 13th Oct 2014. For my income in India, my employer deducted tax at source (Rs 30,000). In US too, my employer deducted tax at source ...
1
vote
1answer
49 views

What US taxes are due for US stock bought via ESPP when I was in USA and sold after I returned to India?

I was in USA and purchased few US stocks in 2007 through US broker and ESPP stocks through my employer. I moved back to India in 2012. I sold those US stocks in 2014. I have submitted W8-BEN forms to ...
-1
votes
1answer
50 views

Taxes on transfering money from India to the USA

I have an house in India and will be selling it soon. I need to transfer the money to the USA. I am in the USA and still have Indian citizenship. How much tax will be involved?
1
vote
1answer
40 views

Company registration for Small business

I am doing trading of goods and also provide services to various organisation. The companies would like to have all future payments made to an organization to which I am proprietor and not directly to ...
1
vote
1answer
116 views

Tax on foreign currency brought into India?

My brother is considering to bring USDs from Saudi and get them converted here. He's had trouble remitting through banks since he doesn't have iqama at the moment. So, if we get $s converted in India, ...
0
votes
1answer
68 views

Sending money from India to US - What are the PayPal charges that applies

I have a PayPal account in India. And due to our banking regulations we cannot use PayPal for personal payments. I need to send some money over to a PayPal account in the US, and I have been asked to ...
1
vote
1answer
32 views

Do I owe NRI tax on excess per day allowance that I have saved?

I work for a multinational IT company, based out in India. At the beginning of 2014 I came to Europe for office work for a short term duration. But then the stay got extended and I happened to stay ...
1
vote
2answers
57 views

Tax implications of transferring money to retired parents (India)

I transfer some amount of cash to my parents for their groceries every month. What are the tax implications for this amount? Do I get any tax exemptions for this sum?
1
vote
1answer
41 views

NRI having NRE, NRO and domestic bank acount

I am an Indian citizen with NRI (NonResident Indian) status, and I have an NRE account, an NRO account, as well as an ordinary bank account in India. I need to know How to treat my investments done ...
0
votes
1answer
31 views

Sending money through remittance to previous employer against in lieu of full and final settlement

I resigned from my previous job. As part of the final settlement, there is some money that I need to pay my employer [Unsettled expenses, etc]. I need to pay that off through remittance. Does this ...
1
vote
1answer
25 views

Taking tax paid money back home to India from Singapore

I have worked in singapore , 30 months and paid all my taxes. I hold an NRO account in India. I do not have any NRE account. I need to transfer my post tax paid saving to India bank as I return home. ...
1
vote
1answer
75 views

Are “Liquid” Funds a good return or a gimmick?

I reside in India and I am looking for an investment option and my friend suggested investing in Liquid funds . Do these have a good return or are these just a gimmick?