0
votes
2answers
24 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
38 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
100 views

How to transfer money from the US to India without paying taxes?

During my tenure in US, I deposited money in Wells Fargo checking account. I had to move to India last year. Now I would like to close the Wells Fargo account and get money transferred to India. ...
6
votes
1answer
591 views

Best way to transfer abroad loan amount to Indian parents Savings Account

Can you pls advise: I am working in Dubai, and applied for a loan of 25Lakhs, I would like to use this funds to repay my personal loan (to relatives) and want to buy a land with left out money. I have ...
1
vote
1answer
72 views

In India, what is the difference between Current Account and a Savings Bank Account?

Considering that Current Accounts in India give you no interest, why would anyone keep a current account open? Why not just use a Savings Bank Account? ATleast they give you some daily interest on the ...
4
votes
1answer
107 views

How often do Savings Banks in India pay interest?

As per my understanding, Banks in India are to run under the directives of the Reserve Bank of India. How often do they pay dividends on the interest that they offer on Savings bank accounts? Every ...
1
vote
1answer
1k views

Can I transfer money from an NRE account to a USA checking account?

I want to transfer some money from USA checking account to my Indian NRE account to get the benefit of a good interest rate. But when I need this money back in USA, can I transfer money from my NRE ...
0
votes
1answer
72 views

PPF Account in Indian banks

I'm an indian citizen and about to open a PPF Account in a Nationalised bank. I have had enquiry in ICICI Bank and in SBI Bank today. Their interest rates are as 8.8 and 8.7 respectively. Can one ...
1
vote
2answers
151 views

How can I do a money transfer from Lebanon to India for payment on a consulting project?

I am an Indian citizen and hold a domestic account. I am doing a short term consulting project for a client in the Middle East and they will be paying me in $. The amount that will be transferred is ...
2
votes
1answer
1k views

Will I have to pay tax in India for a transfer into my account from the US?

Will I have to pay tax in India when my friend transfers money to my bank account in India from US? The amount is $100 USD, and at this time I don't know how the transfer will occur. I am living in ...
0
votes
1answer
150 views

Should I pay the student loan now classified as bad debts

I got educational loan on 2008 from one of a Bank in India. So far I am paying only interest money not principal money for it, but it’s also not regularly, I left some intermediate gap on it. Last ...
1
vote
1answer
390 views

How much money am I allowed to transfer to India into my own Indian account as a non-Indian foreigner?

I am a non-Indian foreigner and recently opened a savings bank account in India. Is there a maximum amount I am allowed to transfer taxfree under Indian Law to India for my living expenses here? I ...
2
votes
1answer
369 views

Can I receive payments (EUROS) from my International clients in my savings bank account in India for my business services

I am starting a small international outbound sales campaign and will be selling my web development services. 100% payment will be received in Euros through wire transfers in a bank account or through ...
0
votes
1answer
146 views

How can I get a current account for working as a freelance event manager?

I am planning to do event management as a freelancer. How can I get a current account for this type of work, as I have not registered any company? I need suggestions on how I can proceed further.
1
vote
1answer
596 views

As a freelancer, how to receive money from overseas company to my individual bank account in India?

I am working as a freelance software developer. Recently I got a project from an overseas company. I asked them to send money through ICICI Bank Money2India. The first payment made it successfully ...
1
vote
1answer
389 views

As an individual Indian freelancer, do I have to create trade license & Current account?

I am an individual Indian citizen. I am 23 years old. Currently, I am working as an individual freelancer in freelancer.com. I have a savings account in State Bank of India. I do not have PAYPAL ...
2
votes
3answers
2k views

How is interest in my bank account calculated?

I am a software professional. I have one question. How do banks calculate interest on money deposited, if I get, say, 10 % per annum? Say I deposit say RS.1000 on the 1st day of the month; then I ...