New answers tagged income
If you work while in the US then you're most definitely liable for income tax in the US (in addition to your income tax liability in India). If you're working in India - then, unless you are otherwise a US tax resident (i.e.: US citizen, green card holder, spent enough time in the US to qualify under substantial presence test, or married to such a person ...
In the long run, think of your second house as a simple P&L account. There are no special benefits. In a way it can be a good thing initially since you pay a lot in interest and every rupee can be treated as an expense against any revenue (rental).
There is no scam. Different companies have different salary break-ups. PF is calculated at 12% of Basic salary of the Employee and a match 12% contribution by Employer This company when the offered you job and mentioned the salary as Rs 16,000/- it was the total cost to the company. Ideally they should have mentioned that your salary will be 15232/- and ...
Assuming the United States. This is a loan and not an investment. You report this as income and will pay your tax rate on the 18% of the money that the borrower pays you (any money paid above what was originally lent) for the year in which it was received. You owe taxes on the income even if the borrower does not send you a Form 1099-INT showing the ...
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