For questions that relate to the laws, practices, and products of India
-2
votes
1answer
63 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
54 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 ...
0
votes
0answers
60 views
Buying plots in Unapproved layouts in Pondicherry [on hold]
I am looking at buying a plot in an Unapproved Layout in Pondicherry. The plot/layout comes inside the boundaries of Pondicherry as mentioned in the Comprehensive Development Plan (CDP) released in ...
2
votes
1answer
43 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
111 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
27 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 ...
-2
votes
0answers
23 views
Details related to Zerodha's and Upstox's margin calculation for bracket and cover orders in Intraday
Does Upstox and Zerodha provide 20x leverage on bracket and cover orders for all the stocks listed on BSE and NSE in Intraday trading? I've seen Zerodha's bracket order margin calculation but Upstox's ...
0
votes
1answer
107 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
60 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 ...
0
votes
0answers
30 views
Transfer Money from India to USA [duplicate]
My US Citizen parents recently sold their India Property and paid the taxes in USA and India as per the tax laws.Now they need to bring approx $60K - $65K to USA and I was wondering if it will be ...
0
votes
0answers
32 views
not received new share certificate after merge
I am having shares certificate of jindal iron and steel and when the company name changed to jsw steel i have not received a new share certificate in the name of jsw steel,now its been approx 20 years ...
1
vote
1answer
40 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
51 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
47 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
41 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
52 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
128 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
78 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
60 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
55 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
47 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
61 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
38 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
21 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
18 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
266 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
24 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
121 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
71 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
97 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
119 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
98 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
41 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
109 views
How prize money is 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
74 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
55 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 ...
1
vote
0answers
60 views
How can I pay tax on invoice generated by DigitalOcean after giving them my GST number (in India) [closed]
Previously I was paying taxes on invoices directly as I was not a registered business in India, now I have a registered company with GST number.
In digitalOcean I have option to provide them my GST ...
1
vote
1answer
316 views
Is money collected from childhood taxable?
My daughter is a business woman currently. She started consultation and business from 18 years. Also before she turned 18 she had collected around 2.5 lakhs as pocket money from her relatives, and ...
0
votes
1answer
119 views
How to file and pay income tax for ITR2 in India? What is the order?
I have following incomes
Salary
Interest income from fixed deposits
Short term capital gains from sale of equity stocks
Long term capital gains from sale of debt mutual fund
Searching for it leads ...
0
votes
1answer
23 views
NRE to Indian savings account taxable ? if returned back to India for good?
Hi I have returned back to India from abroad, i have NRE account. Can i continue that account till i spend that money ! If i transfer it to my savings account in india, is it taxable ?
1
vote
1answer
245 views
Money transfer from India to USA for EB-5 visa
My friend wants to sell his inheritance house in India. He wants to invest $500,000 USD in USA to get EB5 investor visa.
How money can be transferred from India to USA legally?
Also what forms or ...
1
vote
0answers
114 views
How to find out present value of money invested in 1991 [closed]
My friend had invested Rs 4,33,000/- in his brother's house construction in 1991. What shall be the value of that money in 2018?
1
vote
1answer
151 views
Why is tax so high on petrol and diesel in India? [closed]
https://en.wikipedia.org/wiki/Fuel_tax#India
In India, the pricing of fuel varies by state, though central taxes
still are part of the pump price of fuel. The Central and state
government's ...
-1
votes
1answer
35 views
Relocating to India and reg remittances
I am relocating back home. I am trying to transfer my tax paid salary saving to a joint ICICI account in which My mother is primary account holder and I am secondary.
I will be using money transfering ...
