Questions tagged [india]

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

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64 views

Measurement of land in india [closed]

I have a residential house which has been told to me by my parents equal to 3 marlas in measurement. I wanted to measure it myself and searched the internet to know how many square feet in one marla ...
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11 views

DTAA applicable when an Indian owns a C Corporation in US?

I'm an Indian citizen residing in India. I'm getting ownership in a US C Corporation based on my contribution in the product development. There will be no capital investment from me. I'm negotiating ...
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1answer
52 views

Capital gains tax for US NRIs for stocks/MF in India

I am an NRI who is a tax resident of USA. I use TurboTax to file my taxes. Irrespective of the filing software, can someone help me understand my tax liability as well as reporting for MF redemption? ...
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1answer
72 views

Gift money transfer to usa to my daughter [closed]

I want to gift $20000 to my daughter in USA. Is chartered accountant certificate required?
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1answer
76 views

Job salary doubt

What will be my in hand salary for the following structure? Basic pay: 15600, GP:6000, DA:9720, Pension: 1139, EPF: 1800, Gratuity: 1506,HRA: 3000, Conveyance allowance: 3741.? Please answer its ...
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1answer
73 views

How can enough money legally be transferred out of India to meet the investment requirements for the US EB-5 visa?

The current Liberalized Remittance Scheme only allows transfers of $250k out of India, however if an Indian wants to apply for EB5 in US or abroad which is close to a $1million, and not married with ...
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1answer
39 views

What are the changes made in Income tax slabs in the Union budget of FY 20-21? [closed]

The union budget came out on 1st Feb 2020. Income tax slab rates have been changed can someone tell me its implications?
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1answer
49 views

Indian resident investing in abroad

Indian resident wanting to invest in abroad through a known friend & receive fixed returns in US dollars. Is it legal for resident indian to invest in abroad & recieve fixed returns in dollars....
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1answer
162 views

Online Hackathon prize money taxation and exceptions

I've participated in one of the Hackathon competition on DevPost and won the prize amount of $3000 USD. However, the claiming section asked me to fill-up the W-8BEN tax form as I'm not a US resident. ...
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1answer
21 views

ULIP investment

I am from India. I have a ULIP(Unit Linked Insurance Plan) which Premium cost me Rs X00000 per year which I started in June 2019. Plan name is ICICI PruSignature. The plan is for 5 years and I have ...
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2answers
212 views

What happens if I don't sell my shares of a company that's being bought out?

My question is specific to an Adani groups acquisition of a majority stake in the company Snowman Logistics (both are companies in India). I have shares in the Snowman Logistics company. What will ...
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1answer
80 views

Investing in ELSS schemes

I am currently a graduate student in India, who is a little concerned about his financial stability after the graduation, so decided to start investing some of his scholarship/stipend in Mutual Funds, ...
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1answer
19 views

What is the difference between claims repudiated and claims rejected in IRDAI Annual Report?

Insurance Regulatory and Development Authority is a autonomous body regulating insurance industry in india. It releases an Annual Report every year for providing some statistics and data from industry....
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1answer
27 views

Mutual fund tax exemption SBI

I have a SIP investment with SBI TECHNOLOGY OPPORTUNITIES FUND Regular growth. Can I show this investment for tax exemption ?
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1answer
42 views

Is a foreign equity holder liable for business debt?

I'm an Indian citizen residing in India. If I get 20% equity in a US company, am I responsible for the company's debts (current and future debts)? Note that this is a sweat equity (no money invested)....
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64 views

Would I need to pay taxes for crossing border with a Violin outfit?

I want to buy a violin outfit (aka "set": violin, bow, and case sold as a unit) from India and take it back to Bangladesh. Do I need to pay taxes for the newly bought violin?
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1answer
110 views

Can a US company give equity to an Indian?

Is it possible for a US company to give some percentage of its ownership to an Indian? Background: I'm an Indian citizen working with a US client. I'm located in India. Together we are developing a ...
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1answer
72 views

Why does my portfolio trend in the opposite direction from the Nifty Index?

I have a set of stocks in my portfolio (some are part of Nifty Index, mix of large/mid/small cap), but I observed that most of the times when the Index surges, my portfolio drops on that particular ...
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3answers
120 views

Beginner's guide to learning about finance [closed]

I am currently a 17-year old Student with no major source of income being supported by my parents. I would like to learn about Finance and managing money, a skill which I hope will help me in the ...
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1answer
24 views

Can EPF be withdrawn at this time?

I am considering to withdraw my EPF account, will the return amount be lower if removed now, than waiting for the future as my current situation is bad , as i am leaving my organisation.
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1answer
58 views

Buy one term insurance policy for Rs 2 crore or two term insurance policies for 1 crore each?

If I need to provide for two sets of dependents and may need to remove one set of dependents in future, does it make sense to get one Rs 2 crore term life insurance policy or two separate Rs 1 crore ...
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1answer
30 views

Advance Tax on Fixed Deposit Interest in India

Lets say a person makes 30,00,000 INR in a year. So he falls under 30% tax slab. Lets say he also earns 1,20,000 INR from Savings Account Interest and FD Interest. This means, an additional tax of ...
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1answer
44 views

FD in 10 banks v/s Mutual Funds

This question is to be answered in terms of security of the money as well as how profitable the investment is. Let's say a person is in India under 30% tax slab. In India, FDs are more secure than ...
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2answers
47 views

Tax Exemption on Foreign Currency Income in India

If a salaried person in India also makes 20,000 USD (in the entire financial year) from affiliate marketing and freelancing with US clients, would those 20,000 USD have any tax exemption in India? ...
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0answers
17 views

Service export through another service provider [closed]

If a person of one country provides services to another country using company outside the county of his residence should he pay income tax to the customer's country?
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0answers
22 views

As an Indian what are my tax liablities if I sell an In App Purchase for Android to any other country [duplicate]

If I use Google's In App Purchase Service to render them in Austrailia ,what are my tax liablities to USA Austrailia India including income tax and indirect tax or other direct tax if neccessary?...
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0answers
88 views

Donating/Gifting money to an individual in India

An NRI (A) decides to donate/gift some money to an Indian citizen (B) residing in India. Currently the money is in an NRO account (of A) in India and A would transfer the money to a savings account of ...
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0answers
51 views

Can a stock split after its face value reaches ₹1?

Can a stock split after its face value reaches ₹1? Will the face value be less than 1?I am speaking in terms of the Indian stock market. Yes face value means par value.
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53 views

Tax implications of selling a bond vs. holding to maturity

In India, for retail investors, sale of bonds are subject to capital gains whilst holding to maturity (assuming cumulative interest) invites income tax on interest component at marginal rates. Right? ...
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1answer
130 views

Money is credited from unknown source

If money is credited from unknown source is it legally binding to inform the bank?
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1answer
50 views

How to compare returns from selling a bond now versus holding it till maturity?

For example, a 10 yr bond (in India) has a coupon of 8%, maturity date of 12-Nov-2020, and Maturity value of INR 10,800. It is trading at 9750 now. How do I compare returns from selling it now versus ...
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0answers
34 views

Is it okay for non-US citizen contractors living outside the US to be paid by US employers into their US bank accounts?

I'm in a unique situation with my US based employer. I'm an Indian citizen and after a year of working in the US, have had to move back to India. My employer would like me to continue working for them ...
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1answer
77 views

In India, how can I verify mutual fund holdings, to prevent frauds?

Recently in India we have found out that a lot of big financial institutions have been cooking their books. And both the auditors and regulators have failed miserably and can not be trusted to do ...
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1answer
77 views

Buying foreign exchange in India without a bill: illegal?

Is it illegal to buy foreign exchange without a bill in India? Also, is it illegal to convert foreign exchange to INR through an unauthorized dealer? If yes, which laws are broken?
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1answer
68 views

What factors should be considered while buying home insurance?

I own a flat/home/unit in an apartment. I recently paid off all may outstanding mortgage. While the mortgage, the home-insurance was owned by (in name of) bank which is now cleared off. As there is ...
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2answers
156 views

Is it safe and smart to keep all your money in SAVINGS account in India? [closed]

I am a Software Engineer by profession and passion. I am facing problems with chosing how shall I invest my money. I have worked for 3 years now, and have around 40 lacs INR total earnings which I ...
2
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1answer
41 views

composition of ADR in comparison to home market

I want to know how one unit of ADR is constructed from the home stock. For example, I see a ADR for India's Tata motors . ADR is trading at about $12 and in home market it is about INR 177, but given ...
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0answers
10 views

How to track dividend in HDFCsec?

I have saving, demat and trading accounts in HDFC. I received dividend for few shares, how can I get that amount in my saving account?
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0answers
43 views

What purpose code should I select when transferring money to my US LLC?

I'm an Indian citizen living in India. I have an LLC registered in the state of Wyoming with an EIN. It is a single member LLC. I also have a business checking account for this LLC with a US bank. Q1:...
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3answers
705 views

Should I invest in the US or India markets?

If I had $1000 to invest, am I better off investing it in the US, in India, or a mix of the two? I am an Indian citizen working in the US, with the option of investing in US index funds or sending ...
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0answers
42 views

GST for android IAP

I am new to android development. I haven't registered in play console. I want to know whether the money received from IAP's GST* should be paid as IGST, CGST or SGST. We must file these three ...
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0answers
66 views

As a Indian Citizen how can I transfer my savings to Singapore

Indian economy is very volatile right now. Central bank is taking the heat and its showing in the notifications it's putting up. One of these mind wrecking notification came up for PMC bank where a ...
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2answers
284 views

How do I assess the value of equity offered by my employer compared to a salary raise?

I work for a small-to-mid-sized (~20 employees) tech startup in Europe. I was hired two years ago as one of the first employees after the founders. When I joined, we had an agreement that after a ...
2
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1answer
95 views

Change in a joint account

My father and my mother are joint owners of a saving account in Punjab national bank Jalandhar Punjab. Now they want to change the nominee of the account. Do both of these joint owners require to ...
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1answer
64 views

Employees Provident Fund

My age is 35 years. At The age of 24 I Worked in a firm on which provident fund was applied in Jalandhar Punjab in 2007. Three years after I left the job due to depression in 2011. During this period ...
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0answers
34 views

Can I transfer my own money from India to the US?

I transferred around $50K from USA to India in early 2019. I now want to bring that money back to the USA. Is there any restriction on bringing my own money back to the USA? Do I have to pay the ...
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0answers
71 views

Money from close relative to close a home loan

I have 15 lakh home loan, which I am planning to close by asking my relative to transfer directly to the home loan account. Is there any problem of taxation due to transfer of bulk amount to the ...
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1answer
62 views

HUF Account India

We have a HUF (Hindu Undivided Family) account in a Govt Bank. My father is "Karta" of this account and me being his son is also a member. So, can I ask my employer (from part time job) to ...
2
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1answer
67 views

Transfer money from US to India [closed]

I have money in my USA account,I wish to transfer that to my Indian Account. What is the best way to send a large amount of money say $50,000 to $100,000 to India from USA? Thank you!
2
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0answers
54 views

US Citizen employed in India but working remotely from US

I am an US Citizen and also an overseas citizen of India (OCI). Last year I joined a company in India. But in September this year I had to come to US to support a family emergencies and health issues. ...

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