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Questions tagged [india]

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

2
votes
1answer
22 views

Repatriate NRE funds from India back to the US.

I have an NRE account in India. I have been paying taxes on the interest and also reporting the total funds on FBAR every year. I have repatriated some of the money to the US this year. What IRS form(...
1
vote
0answers
71 views

How to get loan of 5 lakh with less interest in India [closed]

My monthly salary is 44000. Working since more than 3 years at private IT sector. Currently I own no loans. I wanted to buy a land of 6 lakh. I need 5 lakh of amount and 1 lakh, I have in hand. I ...
11
votes
2answers
2k views

Why is an ETF, which is tracking foreign equities, ticking in my local time zone?

I have recently bought the N100 ETF, which tracks the Nasdaq 100. This is an Indian ETF. So, if it is tracking the Nasdaq 100, then why and how is it ticking in my (Indian) timezone?
0
votes
1answer
33 views

Provident Fund transfer from a company which got acquired by another company

My husband has changed job to another company and had not transferred his PF at that time. Later the previous company he was employed in got acquired by another company. Now he has initiated PF ...
1
vote
0answers
31 views

H1b + Rental income in India and USA

1) As a H1b holder, if I have rental income in India and need help with the following: a) Indian tax law exempts first INR 250,000 and Indian tax law allows 30% deductions on rental income. b) When ...
16
votes
3answers
3k views

Investing in S&P500 Index Fund from India

I am an Indian Citizen residing in India. Can I invest in an S&P500 Index fund while residing in India?
0
votes
1answer
26 views

ICICI: Redeem Mutual Fund SIPs through net banking

I invested in mutual fund through ICICI net banking. After 7 SIPs, I stopped transaction for that fund, but did not get any money back in my bank account. Can someone please guide how to redeem the ...
2
votes
2answers
76 views

to trace shares from folio number?

I am in receipt of KYC updating reminder for my father. He has passed away in 2013 and these the two letter where only FOLIO number is written and number of shares. How to know more details and get ...
3
votes
2answers
171 views

UK Issuing Bank blocked Debit Card. Said card was used fraudulently on ecommerce website. How can this happen?

I was using my UK bank account debit card in India, to buy few flight tickets for my inter city travel. Using my own laptop, in a co-working space. Website used : www.makemytrip.com -- is one of ...
1
vote
0answers
67 views

Gift from my Dad [duplicate]

My dad lives in India and is an Indian citizen. I am a UK citizen. My dad would like to give me and my wife a gift of around £8K each. Would I have to pay tax on this in the UK? My dad has already ...
1
vote
1answer
15 views

What does “Re-registration pending” status means in bank for ECS?

Recently i have provided my BOB account details for LIC ECS. After banking process i got one message from bank site like : policy no xxxxxxx with amt xxx.xx registered for ECS. debit date ...
0
votes
1answer
59 views

Investing in grandfathers name to save tax in India

I was looking for saving tax by investing/gifting to parents. My father/mother is paying tax, instead can I gift my money to grandfather to save tax ? Grandfather does earns so easily 20 lakh could ...
-2
votes
1answer
216 views

Transfer of my gift received from US to India

I am a resident Indian who received a gift from a trust abroad sources legally approved and authorised by abroad country. It is transferred through an associate bank abroad where the trust has money, ...
0
votes
1answer
67 views

What would be my Indian Income Tax if my salary is 15 lacs per annum

This is one topic which has always puzzled me to no end. No matter how hard I try to understand it, I always do not seem to grasp the concept. I'm currently considering an offer and would like to ...
2
votes
1answer
48 views

Retired resident alien with investment in India

We are husband and wife, now retiring in Jan 2019 and getting the PR Card for US. We have our investments in Indian Mutual Funds and Fixed Deposits in Indian Bank. When we shift to US, what are the ...
7
votes
3answers
6k views

INR 10 million borrowed from friend at 7% interest per annum

If my friend transfers INR 10,000,000 into my bank account and we make a legal document for the same to return the amount at 7% per annum for next 12 yrs, should I pay tax on the same? If my salary ...
1
vote
2answers
120 views

WIll money that a friend sent me (for his share of dinner bill that I paid) be taxed in India?

I paid for dinner with 3 of my friends. And at the end of the day, these 3 people send me Rs.500 each. They sent me the money via UPI bank transfer (say, using phonePe or BHIM). Will this amount (Rs....
7
votes
4answers
2k views

Is it advised to sell current self occupied home and buy the other new one to book the profit?

I have a first (and only) and self occupied home. Mortgage is fully paid. Home is with four rooms. Considering expenses I done on home so far including my share in mortgage, taxes so far, total ...
14
votes
3answers
5k views

India: is making money by buying and selling foreign currency legal?

Can a person buy a foreign currency using the currency of their own country, and then sell it when their currency's value goes down? Say, I exchanged 44,820 INR for 1,000 USD in 2010, when 44.82 INR =...
1
vote
1answer
36 views

Tax treatment for India (stay over 182 days)/Hong Kong salary income in a single year

What is the tax treatment for salary earned in India (stayed over 182 days) and Hong Kong? Hong Kong tax rules provide for some standard deduction before computing net chargeable income. What is the ...
0
votes
1answer
110 views

Is it a legal requirement for a shop owner in India to give me a receipt if I purchased something in their shop?

Is it a legal requirement for a shop owner in India to give me a receipt if I purchased something in their shop? I'm asking as I purchased a SIM card in a shop of one of the main phone operators in ...
1
vote
1answer
75 views

If I entered the SWIFT code of a branch in another state, will I receive my wire transfer?

I live in Madhya Pradesh, India. While entering the SWIFT code on my AdSense account, I used the SWIFT code of a bank branch in other state. My local branch does not have SWIFT code. My account ...
1
vote
2answers
53 views

Tax exemption on HRA in India

I am fresh out of college working in Bangalore, and have not much idea about the income tax system in India. Here is my salary structure: Basic - Rs. 12,50,000 pa HRA - Rs. 6,25,000 pa I looked up ...
1
vote
1answer
72 views

Working options for a UK company from India?

I'm a Indian citizen. A UK based company has approached me to work for them. I have never worked for a company outside India and I do not have a work permit or VISA to work in UK. Since they are ...
1
vote
1answer
77 views

How to transfer from my Indian account to my US account as part of relocation

I am relocating from India to US. I would like to transfer my money from INR to USD . Is there a limit on money transfer between my own accounts ? Since the money is already taxed in India , will I ...
0
votes
1answer
97 views

transferring money from India to USA [duplicate]

i saw multiple questions dealing with the topic. But they were bit old and i would like to ensure that there hasnt been any rule changes My parents are Indian citizens and they have bank account in ...
2
votes
1answer
55 views

How tax is deducted on my fixed deposits?

I was filing income tax online. I came across tax deducted on my fixed deposit: Tax on 2nd FD seems to be correctly deducted at 10%: 78/777 = 10% But it seems that tax on 1st FD is deducted at 14%: ...
2
votes
1answer
132 views

How can I exchange a small amount of USD to INR?

My grandma has gifted me 20 US dollars. How can I exchange it for Indian rupees? I don’t have a passport or pan card. I have tried a few forex sites and they asked for a passport but I don’t have a ...
1
vote
1answer
81 views

Is it legal if I transfer money to my retired pensioner father who will create FD (fixed deposit) out of it?

Details: I am based out of India. I have already paid TDS on my salary and have also filed by tax-return for the same. Now, I will transfer some part of this money to my dad's account. I will also ...
1
vote
3answers
63 views

Difference in Closing Price of Security between NSE and BSE

Today date is '08-Aug-2018'. When I am looking for Previous Closing price of RELIANCE security from NSE and BSE exchanges, It differs one and each other. BSE says Previous closing price of RELIANCE ...
1
vote
1answer
57 views

Indian Mutual Funds

I am new to Stock Markets. I have interests to invest my savings on Mutual Funds. When I looking for Higher Return Mutual Fund securities, I have seen some information there. For Example, I am ...
1
vote
1answer
51 views

On which name should home loan disbursement should have been prepared

My home loan had been approved. But the seller has joint account with his wife. The cancelled cheque he provided had a name like <his-first-name> and <wife's first name> <surname> ...
0
votes
1answer
137 views

How to receive funds from outside India in Personal Indian Bank Account number?

I have an account in HDFC bank at Gurugaon district of Haryana. Now I have to receive the money from some foreign party , Can I accept the payment in above account? Will there be any TDS deduction ? ...
1
vote
2answers
39 views

Do I have to file ITR2 if I did not sell stocks in FY17-18?

I've a question related to filing ITR - whether I've to file ITR1 or ITR2. Below is my scenario. I'm a salaried employee and I hold a Form-16 for FY1718. During FY1718, I bought few shares which I'm ...
1
vote
1answer
25 views

How to declare interested earned from unmatured NSC (5 years) in ITR

5 year NSC shows its interest earned is reinvested every year, So I can clam it under 80C. But there is no interest entry made by the Post Office department against NSC. How can I declare such ...
0
votes
0answers
21 views

Can a sole proprietorship survive with just a saving account in India? [duplicate]

I understand that the current accounts in India provide a facility of unlimited number of cash withdrawals restricted only by the funds within the account (some may also offer overdraft facilities). ...
1
vote
3answers
273 views

Is it safe if I rely “only” on mutual funds for retirement planning?

I am investing in mutual funds to raise retirement fund. My portfolio is 25% debt and 75% equity currently. I have self occupied property. Before few years of retirement, I will start to switch fund ...
1
vote
1answer
31 views

Income tax exemption (in India) for interest on second home loan

I own a house in Bangalore (India) for which I had earlier taken home loan and which was fully closed nearly 7 years ago. This property has been let out as I am working & staying in Mumbai. I have ...
3
votes
2answers
122 views

Where I can complain about my stock broker for invalid transaction done by system and putting negative ledger balance

Due to the system error, Angle Broking credited a mutual fund and debited my ledger which has zero balance in it. And for that negative balance they sold out my shares even I have complained about ...
-2
votes
1answer
125 views

Meaning of EPF codes PUPUN Full Form - Should this not be MHPUN

I have searched PF code meaning for Pune - Maharashtra. It is showing PU/PUN. Generally my understanding is say for Karnataka First two alphabet is KN which means Karnataka state. So Maharastra it ...
0
votes
1answer
125 views

Negative balance effect credit score

I have an saving account in Oriental Bank. I am not using this account for last 1.5 year. Currently the balance is negative. I am staying in Bihar since last two year. It is not possible to go ...
0
votes
2answers
166 views

Can merchants refuse cash as payment in India?

Can merchants refuse cash as payment in India in favour of digital modes of payment?
1
vote
2answers
54 views

Can calculation of the amount of tax I will need to pay if I take a home loan be done if I present actual figures?

This is related to the India. So an answer pursuant to the Indian IT rules would be much appreciated. Let's say my income details are: Gross Annual Income: Rs.10,50,000 HRA received from employer: ...
0
votes
1answer
104 views

Money transfer by Indian citizen to US citizen as a gift

The grandparents who are Indian citizens would like to send money from India to the United States to gift their grandkids who are US citizens residing in US. Are there any restrictions on how much ...
1
vote
1answer
48 views

Stock vesting and taxation situations

While working at an Indian branch of a company based in US, I got some Restricted Stock Units vested couple of times. Earlier times (Scenario S1), all the stocks (Say I got 100 stocks vested) would ...
2
votes
1answer
139 views

How is prize money taxed in India?

I have won a programming competition based in US, and i will be getting $800 from the US based company. They are telling me that they will pay the taxes already and will give me the full amount. Now, ...
0
votes
0answers
29 views

Tax laws for Transferring money from India to USA [duplicate]

My mother is a green card holder who has been filing FBAR here in the US. She is my dependent and I am a US Citizen. She would like to close her accounts and bring her money to the US. She has less ...
14
votes
2answers
4k views

Stock Split seems not to have changed the Share Price. Why?

I was recently looking at the financial charts of TCS(Tata Consultancy Services) and noticed that the TCS offered 1:1 bonus on 31st May, 2018. I noticed that the price of the share stock did not ...
1
vote
1answer
77 views

Credit Cards: Cash Financing Charges

I have a credit card, where the terms and conditions have this to say about cash withdrawal: B. Cash Advance Fees The Cardholder can use the Card to access cash in an emergency from ...
0
votes
1answer
69 views

To make a Gift Deed or Sale Deed

I live in a house that have a share of my brother. I want to pay my brother share in cash by taking a Home loan. The house is in name of my father. Now I am confused & blank about thinking that ...