Questions tagged [india]

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

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-1
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0answers
12 views

Screener to find stocks of increasing Market Capitalisation and eps [closed]

I would like to write a screener where stock is constantly increasing in market capitalisation and eps in Indian market. Do u have any template for the same.
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0answers
44 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 ...
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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 ...
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0answers
12 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 ...
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1answer
89 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
14 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 ...
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1answer
153 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
33 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 (...
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0answers
35 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
34 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)?". ...
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1answer
34 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
63 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 ...
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0answers
32 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 ...
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1answer
179 views

Can a 16-17 year old open a PayPal/Paytm/Google pay account without UPI?

I am under 18. I am from India. I do not have a bank account. I only have a phone number(not registered under my name). I also have passport, Aadhar card, etc. What are other requirements for using ...
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2answers
153 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 ...
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0answers
42 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
43 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
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1answer
19 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
20 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?
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1answer
103 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
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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 ...
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2answers
148 views

What is so special about “NIFTY bank”?

What is so special about "NIFTY Bank"? I have heard the name of this bank occurring when the Share Index shows up on any screen. Firstly what are the indices present there and what do we ...
0
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0answers
19 views

When does it become compulsory to change account status to NRI?

These days, especially in IT, employees are given onsite assignment with no clarity of duration. In my case, I am an employee of an Indian IT company and was sent for 3 months assignment and am now ...
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0answers
15 views

NPS: SIP or Lumpsum Investment

I am an Indian citizen and my age is around 30. I am planning to invest in NPS tier-1 account to get the tax benefits under section 80CCD and for the retirement plan. I want to invest Rs. 50k per (...
0
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1answer
59 views

What is this index all about? [closed]

Why did this index touch so high when our finance minister annouce the privatisation of 2 PSBs and one insurance bank?A detailed answer to this will be most welcome. She did not name any but why would ...
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0answers
45 views

Why is a separate fiscal year needed different from that of a calendar year? [duplicate]

What is even a separate fiscal year different from that of a calendar year? A detailed answer to this is most welcome. I am asking this particularly in Indian context.
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1answer
67 views

What is the meaning of the phrase “National Asset Monetisation Pipeline”?

Tabling the Union Budget for 2021-22, Ms. Sitharaman said: Monetising operating public infrastructure assets is a very important financing option for new infrastructure construction. This has been ...
2
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1answer
103 views

What does this mean,“Reinvigorating Human Capital”?

This was one of the six pillars of the Union Budget for the year 2021 for my country.It would be great if someone can explain me this.
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2answers
156 views

What are “G-secs”?

I am having a slight trouble in understanding this. I seriously do not know what it means by "G-secs". I have heard this word in the article posted below. What does it mean when someone says ...
0
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2answers
192 views

Is there any catch in life time free credit cards against fixed deposits?

Many banks have offerred me life time free credit cards because of my good credit score. However, there are some banks which did not offer any life time free credit card. However they offer credit ...
0
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0answers
23 views

How do I get tds refund when the processed ITR mentions 0 as tds refund? (India)

While filing itr the auto populated information showed that I am eligible for a refund but after the itr has been processed by the officer there is no indication of tax refund in the processed ITR. ...
1
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1answer
33 views

Taxation on income deposited to US bank account

I am a student in Florida USA and an Indian citizen. My income earned while I am outside US is not taxable in US. However, will such income be taxable if it is deposited to my US bank account? The ...
0
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1answer
31 views

Taxes on PPF Interest Amount [duplicate]

Do I have to pay taxes on the PPF (Indian Account) interest amount in USA even though I am not withdrawing or distributing?
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0answers
21 views

Regarding Resident US Citizen with OCI card transferring gift money to her US citizen daughter living in US

Status: I got my US Citizenship in the 2nd quarter of 2012 and have a valid OCI Card. I came to India in the first week of Aug 2012 and have stayed in India till April 2016. Since my stay in India was ...
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2answers
97 views

Can I legally avoid tax on savings bank interest, If I move the money to my mother's account who is not under any tax slab?

Can I move money from my savings account to my mother's account on April 1st (beginning of the financial year in India) and move the money back (original amount, not including interest gained) to my ...
1
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1answer
59 views

How to transfer money from India to USA without attracting penalties

My Father is Indian citizen and I am a resident alien. If my father wants to send me money through bank to bank transfer, what is the limit and what are the latest tax and money transfer laws both in ...
1
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1answer
83 views

When should my friend file income tax?

My friend's income in the period apr 1, 2020 - mar 31, 2021 will be around rs. 875,000 (eight lakh seventy five thousand) only. He is a self employed business professional in information technology ...
0
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0answers
21 views

Should we do sip investment through hdfc amc account or hdfc securities

I have recently open my DMAT account on HDFC Securities. I can purchase or shell share from here. Even I can purchase SIP from here but it is regular growth not director growth. Then I read on some ...
0
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0answers
16 views

Should Post office PPF and EPFO PF be declared in schedule AL

Should PPF maintained with the Post Office and Provident Fund kept with EPFO be declared in schedule AL? If so, under what parts in the schedule AL should they be declared in?
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0answers
20 views

Seek advise on Income Tax for India and US - for a new Green Card Holder

No income in US till date. Have some income in India - interest on FDs and Rental income. Please advise: how and where to Fill the forms in US? What all to declare (about India income) and how? ...
0
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2answers
226 views

Help needed to deal with personal financial condition [closed]

Would like to discuss my financial condition here so that you guys can share your thoughts. TLDR :). There are some details related to family as well, which I think is important while taking financial ...
16
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4answers
4k views

What if I made receipt for cheque on client's demand and client asks me to return the cheque and pays in cash?

My client gave me a cheque where I gave him the receipt for it's acknowledgement. Now my client tells me to return the cheque and is willing to pay with cash. How to edit the receipt or is there any ...
0
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1answer
27 views

Claiming tax deduction on Family Health Insurance covering parents in India

I am going to buy a health insurance policy in India. I am single, salaried and 24 years old. And I want to include my parents(both 50 yrs) too in the health insurance. I have the following queries: ...
21
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4answers
8k views

Undated cheque was given by client but client asks me continually not to deposit it

I received a cheque 3 months ago, which my client gave me to start a project and there's no date on the cheque. My client told me to ask him before depositing the cheque. The cheque was advance ...
2
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3answers
92 views

Transfer funds from US to India bank account

I am temporarily moving to India from the US. I am an Indian citizen. I was living in the US since 8 years and I have some savings from my income in the US bank. There is a possibility to either ...
1
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1answer
51 views

why there is a difference in total emi amount and amount spent from my credit card

I have purchased a watch from an e-commerce portal. The calculation page was like below according to this, I have to pay 919.38 x 6 = 5516.28 But, they said total payable amount is 5278.79 Also, I ...
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0answers
131 views

How to fill Part 2 - Claim of tax treaty benefits of W8-BEN for a resident Indian who is working as a software contractor for a US firm?

Under Special Rates and Condition in Part 2 - Claim of tax treaty benefits of W8-BEN form, I am not aware of what I can fill in the following fields: The beneficial owner is claiming the provisions of ...
0
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1answer
49 views

Gift from a brother who is USA citizen but resides in India for over 2 years would like to gift to a brother in USA who is American citizen

Can a brother in India who is an American citizen but living in India for over 2 years send a gift to a brother who is an American citizen in the USA without any tax consequences in India or in the ...
1
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4answers
244 views

How to reinvest my gains in the equity?

My equity portfolio has been gaining a bit of traction because the economy is recovering. I am a noob investor and It has only been a few months since I first started. The rule of thumb for most ...
0
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2answers
203 views

New Green Card holder- Bank Accounts in India

I and my wife recently (2 months ago) received our green cards (family - parent based). We came to US at the end of January, and received GCs in Sept. Due to Covid-19, we got stuck up in US. I opened ...

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