Questions tagged [india]
For questions that relate to the laws, practices, and products of India
1,344
questions
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0answers
44 views
Can I subtract credits/returns/refunds from statement balance and incur no interest?
My question is basically the Indian version of this US-based question. Another duplicate possible is this one, but it doesn't have any country tag associated with it, so I cannot go with it. This ...
0
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0answers
30 views
How to interpret the 50Lakh limit for presumptive taxation?
If someone in India has total income of 60Lakhs in FY 2021 as under:
20 Lakhs from Salary
20 Lakhs from Profession (after quitting salaried job mid-year)
20 Lakhs from capital gains
can he/she avail ...
2
votes
1answer
33 views
Income tax exemption on gifts given to parents in India
Assuming that if a person has a total taxable income of INR 20 lacs, and that person gifts his parents jewellery worth INR 2 lacs. Does the total taxable income of the individual reduce ? If yes, by ...
1
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0answers
46 views
Tax on cheques that are yet to be encashed
I have a cheque issued with a date 20/01/2021 and validity of 3 months.
I forgot to encash it and now the cheque is expired. I want to know if I need to identify this as a source on income for the ...
0
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1answer
63 views
When direct bonds investment is better than investment in debt funds?
Some good company (say SBI) bonds have coupon rate of 9%.
Q1. Does this imply that we can better invest in such bonds instead of debt funds (which have < 9% returns)? Or should I rephrase: why ...
7
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2answers
2k views
Double entry bookkeeping - Record incoming money which I would hold temporarily as a custodian
My dad's clients often transfer payments, which they owe to my dad, into my bank account [for technical reasons, some payment types into my account are not currently available in my dad's]. After a ...
1
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1answer
102 views
Is fixed deposit a good option during COVID days? [duplicate]
In Aug 2020, I left my job and joined 3 years full-time post-grad program. So 1.5 years is already over. Leaving my job during COVID days made me concerned. So I felt I should have significant ...
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0answers
23 views
What are the timestamps at which the NSE's (India) order book gets updated?
I would like to know the timestamps at which the NSE's order book gets updated !
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0answers
47 views
Understanding how bond prices change
I came across following statement regarding Indian debt funds in ValueResearch ebook:
The RBI announced retracting ₹2 lakh crore of banking funds through a 14-day reverse-repo operation in January ...
0
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0answers
39 views
How we earn from debt funds?
I was guessing how we earn from debt funds. I know the underlying bonds pay back interest. But I want to know how exactly we earn from debt funds.
I know how NAV of the fund increases in decreasing ...
0
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1answer
62 views
Sending money to father in India to buy home
I am an NRI living in USA. If I send money (<$15000) in a year to my father in India as a gift to buy home in India under his name, will there be any tax implications in India for him or in USA for ...
0
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1answer
106 views
Possible ways to recover Mutual fund return (India)
In year 2003(I was a teenager), my uncle took some of my money and invested it under my name on mutual fund in India. Now in 2021, I want to know it's return. Unfortunately, neither him nor I have any ...
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0answers
44 views
Should retiree take insurance from employer or should he/she take from external insurance organization?
My dad is retired bank official in India. I want to know if he should go for health insurance provided by his employer or he should go for other insurance organizations, given say the cover is exactly ...
0
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1answer
71 views
Why shouldn't I hold onto debt funds for a long term?
(I'm in India) I've heard that debt funds should ideally be redeemed in 3 to 5 years. If the money is to be invested for a longer duration, equity funds are to be used.
Is that valid? If so, why?
I ...
2
votes
1answer
105 views
What calculations do I need to make to have sufficient balance in my account to avoid margin penalty?
I am talking about NSE (India) here.
Clearing corporations (CC) take 4 snapshots of client positions at random times during the day and see if there was sufficient margin available
and, if there isn’t ...
0
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1answer
86 views
Taking home loan and car loan separately with some down payment or taking one loan without any down payment. which one is good?
Am from India and planning to buy a house and a car. I have ~10L in my hand. House costs around 36L (Including Registration and other charges) and car cost around 11L (on-road price).
So paying down ...
1
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0answers
40 views
What are equivalents of 10K and 10Q in India
According to investopedia:
A 10-K is a comprehensive report filed annually by a publicly-traded company about its financial performance and is required by the U.S. Securities and Exchange Commission (...
2
votes
1answer
107 views
Can I bring back the money to US from India which I’ve sent over the years?
I’ve sent a total of about 50 lacs over the last 10 years to my account jointly held with my father. The money was sent at various times throughout the last 10 years and it was sent to a regular ...
0
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0answers
8 views
Sole proprietor with saving account linked to GST reg and other bank accounts
Is it possible to use savings account linked to GST for personal expenses as a sole proprietor or individual?
How to manage other savings accounts when GST is registered? Should I also show the ...
3
votes
0answers
159 views
Internationally issued Visa Credit Card fraudulently used in the US, possibly because merchant bypassed card security features. What are my options?
My internationally issued credit card was stolen, along with a lot of my personal items in the US. There was also a Apple credit card issued in the US that were stolen, but the fraudulent charges were ...
1
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0answers
39 views
What Nifty 50 ETFS in India allows covered calls? [closed]
I want to buy a Nifty ETF such as SBI-ETF Nifty 50 or Nippon India ETF Nifty BeES but I am not able to figure out if these ETFs allow for covered calls to be written. Can members guide me which of ...
0
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1answer
53 views
I don't have a folio number or the documents of the shares
My father have bought few shares from different companies long ago and lost his documents. And now apart from the company names he doesn't have any other information like folio number or document ...
0
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0answers
39 views
SIP Investment Question
I am 30 now (India) and planning to invest 1000Rs SIP monthly for my Child. My plan is to increase this 10% every year and invest only in NIFTYBEES ETF.
This is purely long-term (more than 30 years) ...
0
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0answers
25 views
Is it reliable to do payments to offline merchants using UPI
Sometimes, when doing UPI transfer the transaction goes into the pending state. I read somewhere that in that case we shouldn't make another txn to the same beneficiary and wait for 48 hours. After 48 ...
0
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2answers
74 views
What are the factors on should consider before investing in Mutual funds or subscribe a SIP
I'm in early stage and trying to build my finance. I'm checking various Mutual funds and some of them have very good returns ~18%.
But I want to consider other factors like expense ratio and other. ...
0
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2answers
198 views
What really is a recurring deposit?
What I do not understand is what is really meant by the term "recurring"? Also why is the minimum time limit between recurring and fixed deposit so different (min :6 months and min :7days) ...
0
votes
1answer
69 views
To receive payments from a US company, do you need to start a LLC/PVT in India?
A person, let's say "X" got an offer from a US company as a Consultant. X lives in India. To receive payments from US company, does X need to start a LLC/PVT in India?
How can X receive ...
1
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0answers
57 views
Avalilability of very short term loan options for non-salary individual in India
I am a student and I have a non-salary account. I mean, I am not getting salary and getting money every month as scholarship. The amount I am getting as scholarship is not less and is at-least ...
0
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0answers
22 views
Do I have to pay GST for online micro works like surveys and providing AI training data etc.?
I got my GST number for ecommerce business last month but I haven't started selling yet and hence made no sales yet but I also do some online micro works like surveys and provide AI training data from ...
3
votes
0answers
67 views
How can I know if some of the money in my bank account is blocked and not available for withdrawal?
I am a resident of India and have a savings account opened with HDFC bank. Recently I applied for an IPO for which INR 14K were blocked from my account. The IPO was not allotted to me and hence the ...
0
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3answers
404 views
What is the best place to park the money while waiting for a sizable future market drop?
For the past few years I have been investing in equity mutual funds via equal monthly installments (dollar cost averaging). With last year's drop in the market, I was willing to put a lump sum into ...
18
votes
10answers
6k views
What is the worst thing that can happen with my investment in mutual funds?
I have downloaded two apps namely Groww and ET Money to see the various Mutual Funds available in the market. The disclaimer reads that Mutual Funds are subject to market risks.
I am curious to know ...
0
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0answers
14 views
Section 80D exemption for senior citizen parents partially covered under insurance
I'm a residential Indian filling ITR under the old regime. Can I claim IT exemption under section 80D for medical expenditure that I incurred for my senior citizen parents, for the OPD charges for ...
1
vote
1answer
107 views
Can 80G donation made in spouse name be claimed?
I have paid for a donation from my account to an organization that has 80G exemptions for its donations. However, the donation is made in my wife's name and the receipt has my wife's name. Can I ...
0
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0answers
20 views
NPS[India] taxation in the US
National Pension Scheme (NPS) is a retirement account in India similar to 401k in US. If someone has a NPS account with money in it, and they become US tax resident, how it will be taxed.
One needs ...
-1
votes
1answer
158 views
Is buying a mortgaged property profitable?
I am planning to buy a property and wondering if this property is worth buying.
A. Price of property including everything: Rs 45 lacks
B. Down payment: Rs 5 lacks
C. Loan/Mortgage (C = A-B): Rs 40 ...
0
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0answers
44 views
Freelancing from India to USA Employer - Upwork or USA Local Bank Account?
We are a Private Limited Company based in India. Recently I was working on Upwork with our client and now they are willing to work directly with us.
We have 2 options for payment :
Continue Upwork (...
0
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0answers
51 views
Which purpose code should I use for PayPal
Which purpose code should I use for PayPal business account to receive a payment from small sites like "Picoworkers,Microworkers,rapidworkers" ?
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0answers
36 views
My HRA limit is 20000 per month. Can I use it for a total of only six months instead of 12 months (40000 per month x 6)?
I am from India and a Monthly salaried IT employee.
My question is "My HRA limit is 20000 per month. Can I use it for a total of only six months instead of 12 months (40000 per month x 6)?". ...
0
votes
1answer
38 views
Does Leave Travel Allowance claimed for one calendar year includes the return fare?
Suppose between Sept 20, 2021 and Sept 23, 2021, I travel from Mumbai to Chennai having ticket cost as Rs.6000 and back to Mumbai having ticket cost as Rs.5000. So, while filing LTA for the FY 2021-22 ...
0
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1answer
72 views
How is the Professional Tax which I pay is used?
Doing a quick research on Income Tax, I found this on:
Government utilizes this revenue for developing infrastructure, providing healthcare,education,subsidy to the farmer/ agriculture sector and in ...
0
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0answers
34 views
India - Can a broker see the direct mutual funds I have?
This question is from the context of India. I have multiple regular mutual funds bought through a financial broker. I'd like to buy a few direct mutual funds now to maximise returns.
Can the broker ...
0
votes
2answers
521 views
Can a teenager open an account without UPI?
Can a 16-17-year-old establish a PayPal/Paytm/Google Pay account in the absence of UPI? I'm under the age of 18. I am originally from India. I don't have a checking account. All I have is a phone ...
1
vote
2answers
161 views
What are non-banking financial companies?
I read in the book Indian Economy by Ramesh Singh that,
NBFCs are fast emerging as an important segment of Indian financial system. It is an heterogeneous group of institutions performing financial ...
2
votes
0answers
48 views
Is Foreign Income taxable In India
I was abroad from 2 years(so NRI currently), Now returned to India in April and working for Portuguese company individually and they need me to send invoices monthly for the payment.
Now this company ...
0
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0answers
53 views
Gift deed of property from British citizen to Indian father
I have a British passport and would like to gift a property in India to my Indian father ( I bought in 2010 while I was an Indian citizen). I am mobilsing funds to buy my first property in the UK. ...
0
votes
1answer
26 views
Request for switch from existing spread over RPLR to higher spread loan
I am currently paying monthly EMI's towards my home loan. The current rate of interest being charged from me is 8.5% whereas the prevailing market rate is 6.75%. Upon request to the bank to consider a ...
0
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0answers
21 views
How is excise collection different from that of GST?
Both of them are indirect tax it seems. How are GST and excise collections different from each other?
-4
votes
1answer
109 views
Why is mandatory vehicle test and vehicle lifetime a part of the union budget? [closed]
Why is the vehicle test and vehicle lifetime included here. What has the vehicle to do with the Union Budget?
https://thedailyguardian.com/union-budget-2021-voluntary-vehicle-scrapping-policy-and-its-...
8
votes
2answers
3k views
Should I still pay the minimum amount due even if my outstanding amount is 0?
I'm using an ICICI bank credit card, and there are two amounts of importance that are visible on the online dashboard: Current Outstanding, and Minimum amount due. I did a transaction of Rs. 1500 on a ...
