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Questions tagged [india]

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

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I am finding hard to understand the trading charges and brokerages. can someone please answer the below queries

I am new to trading a finding it difficult to understand the below. Can anyone please clarify? Thanks in advance As per the attached screenshot at 12:09 PM today i have cancelled ‘Cover Order’ which i ...
Semicolon's user avatar
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0 answers
34 views

Is there any chance get out of bad policies plan as I have opted previously from LIC?

I opted a policy from LIC during college days with my part time salary. However, the maturity amount turned out to be less than expected. Currently, I am considering opting for a new policy and want ...
Meyer West IP's user avatar
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0 answers
40 views

What to do with a stock whose isin is active but company is delisted?

I am from India and i have a share in my demat account that is delisted but the isin is active. Because of this share I am not able to close the demat account and i am losing money in maintaining that ...
arjun gopan's user avatar
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1 answer
26 views

Receiving Freelance Payments as an NRI: NRE vs. NRO Account

As an NRI residing in Singapore, I completed freelance work for an acquaintance in India. Now, I'm seeking advice on the most suitable method to receive payment: Should I use an NRE or NRO account in ...
CuriousCase's user avatar
0 votes
1 answer
72 views

double taxation when more than two countries are involved

I am a US citizen living in Spain with a bank account in India as well that earns interest. Conceptually, I understand avoiding double taxation when two countries are involved. But, how does it work ...
punkish's user avatar
  • 271
2 votes
0 answers
34 views

Mortgage interest rate deduction for foreign property?

I live and work in the USA. If I get a personal loan in the US or a mortgage in India to buy a home in India, can I get the home loan interest deduction on my taxes in the USA?
Raj's user avatar
  • 693
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Are endowment plans better option than tax saving FD for last day tax saving investment?

Its last day (31st March 2024) for investment in order to save tax. And I have not done anything ! 😢 Now I am planning to do some just to save tax. I am in 20% tax slab. Some options are closed for ...
RajS's user avatar
  • 173
3 votes
2 answers
137 views

What address should I key in when using a friend's credit card?

I am from India. I am registering for an academic conference taking place in Australia. My credit card doesn't allow international transactions, so I am paying the conference registration fee using a ...
cpursekar's user avatar
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15 views

EPS not deducted by some employers but some have deducted

I started my service in 2012, EPF and EPS both were deducted. Later I closed this EPF account and withdred money from EPF, EPS still shows amount. Then when I switched organisations till 2018 EPS was ...
RootPhoenix's user avatar
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15 views

2 out of 3 events rule in gst

Why in India when rate of tax changes during supply 2 out of 3 events rule applies that is when 2 out of 3 things, ( provision of goods,receipt of payment,issue of invoice) occurs then that date is ...
Neev Garg's user avatar
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33 views

Tax question: W8-BEN - How to fill 2: Claim of tax treaty benefits for Indian who worked in UK for a US company and then moved to India (not working)?

I am an Indian citizen worked in UK for a US company and then moved to India and not working in India for that company but has the stocks from that company. How to fill the Part 2 in W8-BEN: Claim of ...
Vijay's user avatar
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Demystifying LTA: Monthly Component and Travel Block Limitations

my salary slip shows a monthly LTA component, but the block period allows only 2 trips in 4 years (2022-2025). Only 1 trip, in a financial year, can be claimed I guess. What does this monthly limit ...
InvestInYourFuture's user avatar
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0 answers
88 views

Portfolio Overload: Time to Trim or Wait?

I have recently started investing in Indian stock market. It has only been six months, and I have invested around ~10L, sitting at 12% profit(P/L). I happened to discover a core problem in my ...
InvestInYourFuture's user avatar
1 vote
0 answers
39 views

Questions regarding Adjusted Gross Incomes and their calculation

I was recently asked to provide my AGI by a governmental service outside my country and was wondering about its calculation, since Indian Tax Returns (ITRs) don't have a specific header for it. Should ...
Akuno's user avatar
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1 vote
0 answers
121 views

Seeking Clarification on Indian Taxation After Resignation and Job Change

I recently made a career transition, resigning from an Indian IT company in February 2023 with my LWD in May. And, I was going through the last six months pay slips provided by the organization, after ...
InvestInYourFuture's user avatar
1 vote
1 answer
85 views

Calculation of taxes on sale of shares where company spins off a business in separate entity

I invested in Motherson Sumi Systems Limited from 2017 to 2021. There were no new investment made after that. During last few years the company spun off the its wiring business into another entity ...
Naveen's user avatar
  • 165
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0 answers
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Taxation of dividends/CGs/interest arising in US for Indian citizen resident in India

I am an Indian citizen and used to live in USA. I had opened both regular bank/brokerage account and IRA (retirement brokerage) account too. Now, I live in India and a 'Resident & Ordinary ...
user674669's user avatar
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0 answers
38 views

How to handle taxes as NRI doing remote job abroad

I am a software developer living abroad (NRI) and intend to transition into remote freelance consulting. I am anticipating an annual income surpassing 60 Lakh INR. My plan is just to visit India for a ...
kunhal's user avatar
  • 1
0 votes
0 answers
18 views

HRA exemption ITR India

I want to explore the HRA exemption option to optimise my tax. Currently I stay in Pune ( Non Metro city ) in India in a rented flat with my non working senior citizen mother. Rent a flat at 45K per ...
Ankit Srivastava's user avatar
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0 answers
11 views

AMC's in India support Direct Plan Mutual Funds for NREs

What are the Bank based AMC's in India support Direct Plan Mutual Funds for NREs ? I gone through AXIS and Kotak bank, and I understood that they don't facilitate Direct-Plan for NRE to invest in ...
Rameez's user avatar
  • 101
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0 answers
620 views

What is the meaning of 'Repayment Credit' in banking

I had a FD in an Indian Bank. I told the bank to close my FD. While previously, whenever I closed my FD, my bank statement showed the transaction remark as Closure Proceeds but on this transaction, it ...
ZNAXNOR's user avatar
2 votes
1 answer
100 views

Difference in the Capital gain due to exchange rates

I am a US citizen. I inherited a property in India in 2018 and sold it in 2023 with no gain/loss in Indian currency. But when I convert the cost and the sale price to US dollars, I get a loss because ...
user65985's user avatar
  • 171
0 votes
0 answers
189 views

Unauthorized withdrawal of money from my savings account by Bank

I have a Savings Account in a Bank. The bank withdrew money (₹ 1,75,000/-) from my savings account by account without any authorization (no check, no withdrawal slip, or anything of the kind). My bank ...
ZNAXNOR's user avatar
0 votes
0 answers
56 views

Proceeds of house sale for study loan

Sale of House proceeds is 50lacs. profit from sale of property 15 lacs. I have student loan 30 lacs. Should I pay student loan first or buy property. My all transactions are in in INDIA.
Vinay Misra's user avatar
0 votes
1 answer
2k views

Can my friend transfer from his Indian NRE account to my NRE account?

Me and my friend live in Mexico. He has borrowed some money from me in Mexico Currency. Now he wants to return that money in India Currency. So just wanted to check is it possible if he can transfer ...
Deepak Yadav's user avatar
0 votes
0 answers
16 views

Does Liberalised Remittance Scheme (LRS) apply on Private Limited company - India

I own a small Private limited company in India. And I just received some inward remittance from abroad. Where my bank charged me for using forex services provided them which is almost towards the 1% ...
Saurabh Gupta's user avatar
0 votes
1 answer
123 views

I want to reinvest in a stock after 2 years of not investing

I currently hold a stock (X) in which I have a 200% profit (invested about 2 years ago). I want to invest on the stock again. However, if I invest money in the stock now, the profit reduces as the ...
Spell Blade's user avatar
1 vote
0 answers
26 views

Is personal loan interest deductable from other income / income for capital gains

Say I take a personal loan and invest that amount on P2P lending platform, or in a high yeild FD, or in the stock market. Is the loan interest that I pay for this loan eligible to be deducted from the ...
kbsbng's user avatar
  • 95
1 vote
3 answers
410 views

Is this eRupee email from my bank a scam?

I received an email like this, supposedly from my bank. It is unclear to me if this email is just some kind of scam. On the one hand, GMail seems to have put a blue checkmark, indicating that the ...
Agnishom Chattopadhyay's user avatar
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0 answers
33 views

[India-US]Taxability of qualified dividends on US mutual funds by Income Tax department of India

AFAIK, dividends paid out by mutual funds are of two categories, ordinary and qualified. The ordinary dividends are taxed as ordinary income while the qualified dividends receive the favourable LTCG (...
user2171768's user avatar
2 votes
0 answers
20 views

Do I need to merge EPF amount of different companies?

I'm from India. Everyone is saying that there should be only one EPF account, what does that mean? I have a single UAN number and since starting my professional career I have changed 2 employers and ...
Shiva's user avatar
  • 121
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0 answers
373 views

How do I seed UAN with AADHAR after three years of work gap

I was working with a company. Then I took three years of education gap. Now I have joined new company. When I tried to login EPFO portal, I was not able to login. The portal says "Aadhar is not ...
Mahesha999's user avatar
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0 answers
10 views

How to do offline transfer using NSDL? for unlisted stocks

CDSL provides easi/easiest based offline transfer facility. Whereas how to do this in case of NSDL online? Also how to do interdepository transfer from NSDL Thanks
user2451016's user avatar
0 votes
0 answers
21 views

Claiming HRA for a jointly owned property

I am a salaried person in India. I am in the process of getting a new house on rent but the property is a jointly owned property. The rent agreement will have both the owner's names & i would be ...
Abdul Rehman Sayed's user avatar
0 votes
2 answers
32 views

EPF with PPF clarification for salaried person

Suppose a non-government salaried person has an EPF account. Employee Contribution EPF amount 4500 Rs and Employer Contribution EPF amount 4500 Rs What will be the 80C and 80CCC deduction benefit ...
Subhajit Panja's user avatar
2 votes
1 answer
1k views

Can money be refunded after order cancellation in HDFC multicurrency forex card?

I ordered something online on Amazon while in US using my HDFC multicurrency forex card. A day later the payment was processed and the amount got deducted from my forex card. I had to cancel the order ...
Nemika's user avatar
  • 23
0 votes
1 answer
24 views

Do we need to show foreign asset's (US stocks) dividend in ITR filing, That even not withdrawn from the broker (US stock broker)?

I have purchased foreign assets (US stocks) using the INDMoney app for about 5000 rupees from india. And I have received dividends for that stocks in US broker website. Dividends are very low and I ...
Prasaathviki's user avatar
2 votes
2 answers
162 views

Can any firm ask PAN details of parents in India?

An Indian trading firm I'm employed with has asked PAN details of my parents, could they misuse it ? They've said that SEBI requires them the PAN details of the Parents.
vividh's user avatar
  • 21
1 vote
1 answer
93 views

India TCS tax on foreign remittence

I am an NRI with some NRO and NRE accounts held in an Indian Bank. I am trying to remit an amount from sale of a property for which TDS has already been paid. The amount was deposited to an account ...
money.frictionlesspulley's user avatar
1 vote
1 answer
77 views

Deducting option trading losses for income tax filing

I am in India. Let's say I have an income for 25 lakhs and my losses in option trading for 10 lakhs. How to file ITR for the same? Will my losses in option can be carry forward for 8 years? Suppose I ...
KALAI SELVAN's user avatar
3 votes
1 answer
105 views

Will there be any incoming & outgoing taxes on $40,000 money transfer from USA to India and possibly back from India to the US between siblings?

I am an Indian citizen and future UK postgraduate student (September 2023). To fund my studies and living expenses in the UK, I have applied to for a local government scholarship, the result of which ...
philosyche's user avatar
0 votes
0 answers
56 views

Understanding Profit and Loss chart with simple option strategy

I am using a platform called Sensibull and I am retail options trader in India, which follows European format of options. I have shown below a profit and loss chart below The question that i have is ...
Lau's user avatar
  • 101
0 votes
0 answers
61 views

Demating City Union Bank

City Union Bank Share certificate held by my wife jointly with me was returned without demat in 2007 by M/s Integrated Enterprises due to signature mismatch etc. I happened to locate the physical ...
Ganesan Thenappan's user avatar
0 votes
0 answers
264 views

W8BEN form Tax Treaty details for an Indian student receiving a (Travel) Award from a US-based organization

I'm a Indian student living in India. I have been selected for a Travel Award for attending a conference in a country that is neither US nor India. However, the conference organization is US-based and ...
digikar's user avatar
  • 101
1 vote
0 answers
32 views

tax implications of reinvesting capital after selling house in india

Say Person X is an NRI who has held a property in India for the past few years (greater than 3 years). sells property for a profit of 100 units As an NRI 100 units of profit gets taxed at 20%. 20 ...
money.frictionlesspulley's user avatar
3 votes
1 answer
68 views

When exactly in the FY can returning NRIs invest in PPF?

It is said that an NRI cannot open a PPF account. But consider the case of an NRI individual who has recently returned back to India and has no plan for going abroad again. When exactly can this ...
2020's user avatar
  • 81
1 vote
0 answers
64 views

Does a loan for purchasing land provide a tax benefit?

I want to take a loan for land. In the future we want to build house on it, but now we can only afford the land. Would this be a personal loan or home loan? If I take this land loan can I benefit in ...
Dakshank's user avatar
  • 111
2 votes
1 answer
635 views

Can a foreign national maintain an Indian PPF account after giving up Indian nationality?

I have an enquiry about the PPF system. If an Indian citizen, having a Public Provident Fund (PPF) account with an indian bank, plans to give up his/her Indian citizenship before the maturity period ...
Swatantra Kumar's user avatar
1 vote
0 answers
74 views

Capital Gains on selling a redeveloped house in India

I am an NRI trying to sell my house in India. My house was redeveloped in early 2000s while I was an Indian resident. I got possession of the said flat in around 2006 when I was still an Indian ...
money.frictionlesspulley's user avatar
1 vote
0 answers
374 views

Transferring money from India to US from my Mom

I am an Indian married to an American citizen living in the US, in the waiting phase for my Green Card application decision Process. My husband and I share a joint account here in the US. My mom lives ...
Susan Adams's user avatar

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