3
votes
1answer
29 views

US citizen transferring money to Indian fiance to buy property

I am a US citizen wanting to transfer money to my Indian fiance to buy property. Is the best way to bring in cash, and declare the amount with customs at the airport? How much tax am I liable for ...
1
vote
0answers
12 views

Do I have to pay taxes on PPF in USA?

I am going to work on H-1B in US for next 3 years. I am sure that I will return to India after 3 years and do not want to permanently settle in US. In order to invest money in India I am planning to ...
1
vote
1answer
26 views

Income tax Rebate on more than one property

I have purchased one house property at Bhopal. which is constructed. For which I paid Rs. 280800/ pre EMI interest & Rs. 260000/ EMI interest. I purchase another house property in Gurgaon. It is ...
-2
votes
0answers
41 views

How to calculate tax liability for consultant in India working for a foreign company?

Suppose a foreign company is paying complete 9 lakhs per year to a consultant, without withholding any taxes i.e. 75k per month. Suppose following information - Savings 1,50,000 Rs per year ...
0
votes
1answer
38 views

How to save tax in India

Hi I'm a salaried person with an annual income of 4 L/annum. I don't know much about tax saving. What can I do save tax in India ? and Is PF/Pension and Gratuity in salary taxable in private company ...
0
votes
1answer
17 views

Will I be taxed in India

I am on a project (1 year duration) in Qatar. I am remitting money thru TT to my HDFC Bank savings account in India. All family maintenance/expenses and Home Loan EMI is deducted from this Saving ...
1
vote
2answers
59 views

Tax considerations for outsourcing freelance work to foreign country

I've seen this asked a few different ways (closest was here), but I am looking to find out from the business's perspective, how to report (if necessary) the amount paid to a foreign contractor. My ...
0
votes
0answers
21 views

Can I transfer my RSU/ESPP shares money to a friend working in US?

I am an Indian citizen. I need to sell the ESPP and RSU shares granted for US company. I want to transfer the money to my friend's account, who is working in US but is an Indian citizen. He will in ...
3
votes
1answer
155 views

Tax implications on money transferred to NRO account

Here is the situation - my wife and I are based in UK. I have NRO/NRE account in India. My wife has remitted some money to my NRO account in India. Can the forum please help me with the following? ...
2
votes
1answer
86 views

What are the common Income Tax deduction for salary earned in Saudi Arabia

I have left for Saudi Arabia on 7 November 13 , I am a government employee in Saudi Arabia . My salary is deposited in Saudi bank account , will I have to pay tax on 1,000,000 rupees amount which I ...
2
votes
1answer
117 views

What are the Long Term Capital Gains for this real estate sale in India?

I purchased a site for Rs85,000/- in 30/03/2001 and planning to sell it this year(2014-15) for Rs35,000,000/-. What will be the long term capital gains for this? If I invest in bonds for 3 years, will ...
1
vote
1answer
46 views

How do I get audited in India and what happens after that?

I have not filed my tax returns for 5 years. However I have a few FD's in my name and I was wondering what would happen if I were to get audited and how do these audits take place. In the bank they ...
1
vote
1answer
86 views

Transfer money from NRE account to a local Indian account

I am currently in US and I generally transfer money to my NRE account in India. I was wondering if I could transfer some of it to my mother's local bank account. Will she have to pay any tax if I ...
1
vote
2answers
255 views

Do I have to pay income tax if my friend uses my bank account to transfer funds to a third party?

Suppose my friend has to transfer to someone a big amount using debit card. Since he doesn't have a debit card, he transferred the same amount to my bank account via cash and asked me to make ...
2
votes
1answer
181 views

I am an Indian citizen residing in the US on H-1B. Can I send my earnings to India to my regular Savings Bank Account?

I am in the US on H-1 B. I understand NRE, NRO and FCNR accounts are available to the Non resident Indians. But can't I continue to use my regular Savings Bank Account for sending money to India? ...
0
votes
1answer
127 views

How to get money transferred from the United States to India?

My brother has a registered company in the USA and has a payment gateway. Now here in India I need to use his gateway for payment as I am into online technical services and have a registered company. ...
3
votes
4answers
106 views

Will I be liable for taxes if I work for my co. in India for 3 months while I am with my husband in UK

My husband has a temprorary assignment in the UK and I plan to accompany him . My company is open to let me work from home but are there any legal or personal tax implications and how long can I ...
1
vote
1answer
96 views

Is the fund received to my indian bank from foreign bank taxable?

I am Nepali citizen and I have ordinary saving account in Indian bank. I was also working here for 2 years in the past(3 years ago) and I have PAN card and bank account. Now I am living in India for ...
1
vote
2answers
80 views

US tax for a resident NRI

I am a recent resident and filing for my taxes. However I have investments in India (stocks and real estate). I would like to know since I am paying taxes for those investments in India, would it be ...
0
votes
1answer
47 views

Whether the waterbill paid to HMWS&SB of Rs. 20,000 per year can be used for Tax benefits

I own a house under GHMC, Circle-15. The drinking water bill is Rs.1800 per month. Can I use these bills for Tax Rebate while filing IT Returns, similar to LIC Bills
2
votes
1answer
118 views

Is the amount taxable if my grandfather sells agricultural land

My grandfather who is around 80 years old selling agricultural land that he has acquired from his forefathers in Aligarh (Uttar Pradesh). He would the selling the land for 13 lakhs. Is this taxable. ...
1
vote
2answers
139 views

Do I need to pay tax on the amount of savings I have in the bank?

Do I need to pay tax for the amount which I have in the bank? If so, what's the tax percentage for a savings account and a current account?
1
vote
1answer
102 views

Tax Deduction under section 80C for Indian with foreign family Paying International Premium

I am Ronit, indian holding indian passport. My family, my wife and kids are foreign nationals and holding foreign passport. I have purchased insurance from AIA and I am paying insurance premium for ...
1
vote
1answer
2k views

How many dollars I can transfer to my Indian bank account without letting IRS know?

Could someone please let me know how much money I would be able to transfer to India from my US bank account to my regular bank account. Do I have to let IRS know about it? What are the TAX Rules? I ...
1
vote
1answer
98 views

How would by Taxes be calculated on H1B and India Partnership Firm

I am going to USA on H1B visa and planning to stay in USA for 3 years. I also have registered partnership firm on my name in INDIA, from which i earn about 8-12 lakh per annum How would i be taxed in ...
1
vote
1answer
389 views

Tax applicable on selling of agricultural land in India

My father now aged 65 years, had purchased the agricultural land in Gurgaon area (Farukh Nagar) in 1987. He sold this land in 2011 at Government circle rate. The money was received by demand draft. He ...
4
votes
1answer
308 views

Do I pay tax if I convert INR to CAD to use in Canada

If as a Canadian resident, I hold an NRE account with an Indian bank and i transfer money earned in CAD to this account. The I earn interest in rupees and want to transfer back to CAD. The interest is ...
2
votes
1answer
230 views

Providing Client W-9 or W-8BEN forms

I am part of a small outsourcing company and have providing service to clients in the USA for a few years. The work is entirely carried out in India and we only employ Indian nationals to do it. ...
1
vote
1answer
670 views

Is a tax applicable or not if I lent my brother money in India while I am abroad?

From 2002 to 2010, I was working abroad. I sent money to my account in India via Western Union. In every transaction I used to keep 10000/- separately with me (my hard earned money). In the last 8 ...
-3
votes
1answer
125 views

Money transfer from Australia to India - avoid receiving ends service tax

How to avoid service tax at receiving bank in India
3
votes
2answers
197 views

Freelancer in India working for Swiss Company

I am based in India and I have a contract with a Swiss company to handle their businesses in and around India. I receive my Salary in Eur which is then converted to INR in my Bank. I have been paying ...
1
vote
1answer
367 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 ...
1
vote
2answers
164 views

Trading US stocks from India

I used to live in US on H1B visa. I have opened a trading account in US. Now I have moved back to India but I am still doing trading with US account. Also I have not closed my bank account in US. My ...
2
votes
1answer
240 views

US tax liability for a non-resident with a US LLC that does business in the US

I'm a non-resident of the US and I've never been to the US. However, I have an LLC in the US. I sell computer software warranty services where we fix computer problems remotely from India. I have a ...
1
vote
1answer
294 views

Can I claim a tax credit on money I send to India for my parents' healthcare?

I live in Canada and I'm a permanent resident. If I send money to my parents in India, can I claim any kind of tax benefit on that e.g. under the caregiver tax? I know if I bring them here and they ...
1
vote
1answer
441 views

Will I have to pay taxes in India when I transfer money from a US bank to an Indian bank (Different a/c holders)?

I am based in US and plan to send money to India. A similar question addresses the issue when money is being transferred to my own NRE/NRO/FCNR account in India. I was wondering whether the tax ...
2
votes
1answer
128 views

How do I account for money paid to colleagues out of my professional income?

I am resident of India and I work as a freelancer, developing software for Indian companies. Sometimes, I do the work along with a few other professionals like me. I receive the payments into my bank ...
1
vote
1answer
118 views

What is the amount of extra interest I have to pay along with my tax due?

My total tax payable is 60803 for the financial year 2012-2013. But, TDS deducted till 31st 2013 is 50822, so I have to pay the tax due of 9981. What is the exact amount I have to pay? Is there ...
7
votes
2answers
16k views

Will I have to pay taxes in India when I transfer money from a US bank to an Indian savings account?

I am currently in US, and would like to transfer some amount from my US Bank account to a savings account based in India on a monthly basis through a third party like Xoom or Transfast. If I'm going ...
4
votes
1answer
3k views

What capital gains taxes do I owe on stock sales in India?

I would like to know about the tax details on selling stocks if I follow this procedure: Sold stock ABC after holding it for more than a year for INR 1000 for a profit of INR 100 Bought stock BCD ...
5
votes
3answers
9k views

Indian working in US on H1B - Do I have to pay taxes on interest earned from Savings Bank Account in India

I am an Indian citizen, currently living in US. I am on H1-B visa and employed in a company. I stay there pretty much all year long. This means I will be classified as an RA (Resident Alien). ...
0
votes
2answers
764 views

Is it customary for foreign companies to add Indian TDS tax to quotations

With the TDS being a deduction 'at source' and therefore not really the responsibility of the foreign company, is it customary to mention it when quoting and Indian client? Thanks very much.
0
votes
1answer
500 views

Tax planning for Indian TDS on international payments

I have a prospective Indian client on a reasonably big project (enough to warrant this question). India seems to have a 'TDS' tax on outgoing business payments of 21%, that is to say that any payments ...
1
vote
2answers
214 views

Minimum lock-in period for ULIP to avail tax benefit

What is the minimum lock-in period in ULIP to avail tax benefit in India.
4
votes
2answers
447 views

My friend found out about FBAR some time after the fact. What can he do now?

My friend sold a property in India and he has funds in his bank account in India. He was thinking about either buying another property with that money to avoid taxes or something like that. (You have ...
4
votes
1answer
878 views

My company didn't pay taxes on my behalf

I have filed tax returns based on form 16 I got from my employer. To my surprise I get a letter from it tax department stating my claim of filling tax hasn't been found in their records and they are ...
1
vote
1answer
2k views

What are the tax liabilities for an Indian citizen working in the US?

I have an opportunity to work in the US for a period of 1-2 year. as I have gone through the link, it suggest I don't have to pay any taxes in India as it is already included in federal tax. I am ...
1
vote
3answers
2k views

If I am Indian citizen residing in India but earning through online freelancing in US dollars, to whom do I pay taxes?

Say I am an Indian citizen and residing in India and earning through online freelancing software programming in US dollars. Which government do I pay taxes to? Do I pay some taxes to Indian ...
4
votes
3answers
2k views

If I am Indian citizen residing in US and earning there, do I have to pay taxes to India?

Say, I am an Indian citizen and living and working in US, do I still have to pay some taxes to Indian government? My first thought is why should I be paying taxes to Indian government because neither ...