Questions tagged [india]

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

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28 views

GST for android IAP

I am new to android development. I haven't registered in play console. I want to know whether the money received from IAP's GST* should be paid as IGST, CGST or SGST. We must file these three ...
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53 views

As a Indian Citizen how can I transfer my savings to Singapore

Indian economy is very volatile right now. Central bank is taking the heat and its showing in the notifications it's putting up. One of these mind wrecking notification came up for PMC bank where a ...
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41 views

Is it safe to pay rent via NoBrokers credit card pay

What is the profit model for company in launching this scheme ?
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1answer
175 views

How do I assess the value of equity offered by my employer compared to a salary raise?

I work for a small-to-mid-sized (~20 employees) tech startup in Europe. I was hired two years ago as one of the first employees after the founders. When I joined, we had an agreement that after a ...
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1answer
68 views

Change in a joint account

My father and my mother are joint owners of a saving account in Punjab national bank Jalandhar Punjab. Now they want to change the nominee of the account. Do both of these joint owners require to ...
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1answer
51 views

Employees Provident Fund

My age is 35 years. At The age of 24 I Worked in a firm on which provident fund was applied in Jalandhar Punjab in 2007. Three years after I left the job due to depression in 2011. During this period ...
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31 views

Can I transfer my own money from India to the US?

I transferred around $50K from USA to India in early 2019. I now want to bring that money back to the USA. Is there any restriction on bringing my own money back to the USA? Do I have to pay the ...
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0answers
67 views

Money from close relative to close a home loan

I have 15 lakh home loan, which I am planning to close by asking my relative to transfer directly to the home loan account. Is there any problem of taxation due to transfer of bulk amount to the ...
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1answer
31 views

HUF Account India

We have a HUF (Hindu Undivided Family) account in a Govt Bank. My father is "Karta" of this account and me being his son is also a member. So, can I ask my employer (from part time job) to ...
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1answer
52 views

Transfer money from US to India [closed]

I have money in my USA account,I wish to transfer that to my Indian Account. What is the best way to send a large amount of money say $50,000 to $100,000 to India from USA? Thank you!
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50 views

US Citizen employed in India but working remotely from US

I am an US Citizen and also an overseas citizen of India (OCI). Last year I joined a company in India. But in September this year I had to come to US to support a family emergencies and health issues. ...
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1answer
66 views

Please help - Yet another question on transferring money from India to US

I am a US citizen living in the US for 20 years and an Indian OCI card holder. I am quite a newbie in regard to Indian banking, tax and money transfer rules. I need advice from the experts. My ...
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1answer
29 views

Mortgage: Floating rate loan tenure extension on rate increase

I am trying to figure out how my bank has implemented re-pricing on my floating rate home loan. The original home loan was for an amount of ₹ 48 lakhs (₹ 4.8 Mn) at an annual rate of interest (RoI) ...
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99 views

Are prepaid credit cards a form of secured loan?

I was reading about different factors that determines credit score. One of them is having a "good credit mix" (IE having a healthy mix of secured (such as home loan, auto loan) and unsecured loans (...
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125 views

How to strike balance between home loan, savings, investment, tax savings, marriage, retirement plan, startup & living life?

Small intro: I am 30 years old, living with my parents in Mumbai, India. I am the only child. During the past 8 years of working, I have managed to change my family's financial condition to a great ...
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1answer
51 views

Filed ITR-1 without clearing due tax - What are my options now?

So I filed my ITR-1 Form I had some 5k tax due that I had to pay but I thought of paying it after submitting ITR. As it turns out, I do not see any option in the above mentioned site to pay the due ...
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1answer
129 views

Is it good if a network marketing company is not asking for an investment? [closed]

And does network marketing include any interest or compound interest? A network marketing company is not ask for any investment, and they have halal certificate. I would like to ask if network ...
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36 views

Global FPSB not to renew its licensing agreement with FPSB India what does it mean for the current & future CFP aspirants

Global FPSB has decided not to renew its licensing agreement with FPSB India. Reference link The agreement between FPSB and FPSB India expires on March 31, 2020. I plan to become a Registered ...
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0answers
26 views

tools/means to money transfer from India to USA legally [duplicate]

I see questions Legality and transfer for EB5, but does not answer on how to do the money transfer from India to USA. For USA to India transfer there are many websites/and Bank. I left India about ...
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2answers
143 views

Is it better to invest in US than to invest in India considering inflation rate and devaluation of INR

I am a US resident with Indian nationality. To calculate annual real gain on my investment in mutual funds in India, I am following below mentioned formula: Annual Real Gain = Annualized Return - ...
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1answer
19 views

Should I write my stipend income while filing ITR 1 for TDS-2 (India)

I am new to income tax stuff. I worked as an intern in some company which deducted TDS (Tax Deducted at Source) on my stipend under section 194J (written on my Form 16A certificate). Now I want to ...
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70 views

How do I identify product code from a bank account number

I am trying to classify savings account and current account from a bank account number. Need to understand the pattern for Kotak Mahindra Bank
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1answer
81 views

Indian Resident gift from India to me who is US citizen

I'm an US citizen. My friend and relative who are Indian citizens want to transfer USD 50,000. They will send in two transactions of 25,000 each. Transfer is from their Indian bank account directly to ...
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1answer
69 views

Nature of exempt allowance under section 10

I'm filing income tax return for assessment year 2019-20. I'm facing problem in putting the details for section 10. The Nature of Exempt Allowance column is showing 14 different choices as shown in ...
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29 views

What is the best way to gift NRI daughter from India? [duplicate]

My dad is an Indian citizen and he plans to sell his farm land and send the proceeds to me as a gift. I am a US citizen. What are the tax implications to my dad since he is selling farming land? ...
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83 views

how can I show “hand loan” given to my friend in tax filling?

In last financial year, I have given hand loan of 2 Lakh rupees to my friend. I would like to show this in tax filling. Which head/section of tax filling, I can use to show these details?
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1answer
39 views

Is there any loss to removing default 3 fund houses of National Pension Scheme India?

As a government employee in India (CG), we are not allowed to choose aggressive investment strategy in NPS. Apart from that any change in the scheme requires us to choose only one Fund house which I ...
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1answer
117 views

What is Money multiplier deposit or MMD?

What is money multiplier deposit or MMD? How it works in Indian bank?
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1answer
32 views

India Income Tax Deduction questions AY 2019-20

I am a Resident Indian Sr. Citizen, I paid Mediclaim Insurance Premium of Rs.53808/- last FY (March 2019), by cheque, for my wife and myself (both senior Citizens) I was hospitalised in December ...
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1answer
35 views

House property loss adjustment with carry forward loss from previous year

I have a query regarding situation below for tax implication : Carry forward loss from previous year under head house property loss : 60000 Current year house property loss : 120000 With above, ...
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1answer
54 views

What is the Income Tax treatment, if person A transfers more than fifty thousand Indian rupees electronically to Person B's saving account?

I wanted to know the income tax implications if A transfers more than fifty thousand Indian rupees to B's saving account electronically. The B is not a relative to A. Would B be taxed as he/she is a ...
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1answer
86 views

Risks involved in debt funds and recessions?

I have following questions related to various risks in debt funds: Are gilt funds safe during recession? I feel yes as they invest in government bonds, even though though they involve some inherent ...
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2answers
92 views

Tax relaxation for Indians in Germany

I have recently employed in Germany for one year. I am from India. Is there any tax relaxation for Indians in Germany? I am married.
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1answer
516 views

Will I be taxed for accepting money to help needy?

One of my friend, who is very poor, is hospitalized. His total medical expenses are around 1.8 lakhs. He is not in a position to pay even a small amount on this. So, I am requesting people send ...
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1answer
192 views

How to get FMV ( Fair Market Value ) of a stock on 31 Jan 2018

I want to know how to get FMV of a stock ( Ex. SBIN ) which is purchased from NSE. I want to know this for filling ITR ( India ). I tried over nse website as well as moneycontrol website but could ...
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1answer
24 views

SEBI RULE For Closed Company / Share not traded

I have Invested good amount in SUPREME TEX (BSE: 531934).. This company is not traded from last two month. What is the SEBI rule to for refund ?
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16 views

DTAA in case of India and UK

For current FY (2018-2019) , I have some foreign income from UK. I am a resident of India. I was in UK from April 2018 to Aug 2018 and also during April 2017 to Mar 2018. I have paid and filed tax ...
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24 views

Transferred to UK in Nov 2018 from India, How Tax needs to be declared

I have been moved to UK due to company transfer from India in Nov 2018 and will be staying coupe of years here. Nov 2018 onward, I am getting my salary in UK itself which is being credited in UK ...
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1answer
52 views

Is salary for march included in income tax if it gets paid in April?

My mother is a pensioner in India. Her Pension for March 2019 was actually paid on 2nd April 2019. My question is whether this amount would be considered as income for Assessment Year 2019-20 or ...
2
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1answer
72 views

How to exactly find out income earned from Fixed Deposits?

I have an SBI savings accounts with autosweep facility such that it creates FD if the amount goes above a certain limit. Now any interest earned from FDs is taxable. However this year, I don't see ...
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1answer
249 views

How many days it take to reflect income tax paid on form 26as?

Today, I have paid my payable amount of income tax through Government Website as Self Assessment Tax using Chalan 280. Now, I want to file my ITR but same tax paid amount is not available in FORM ...
2
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1answer
64 views

Is it required to mention money returned by friend in ITR filing in India?

I live in India. For a long time I was giving money to my friend as he lost his job; there was no other option for income. But later he got job so he returned all my money recently into my bank ...
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1answer
74 views

How to transfer money directly from US to home loan account?

Can we transfer money from US directly to the home loan account? Do we have any tax implications in US or in India? I don't have an NRE/NRO account and want to transfer directly to Home loan account. ...
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2answers
248 views

Sharing father's property with my brother

My father owns a piece of land which he wishes to share between his two sons - me and my brother. I do not wish to own the land and would rather take my share of the money (in other words my brother ...
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4answers
198 views

How can intraday trading be done when settlement takes two days?

When I buy a stock on the NSE in India, it takes two days for settlement (T+2). Therefore I can only sell that share after two days after the purchase date. Then, how does intraday trading occur (...
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1answer
37 views

Tax benefit on home loan of under construction as well as ready possession property

I am from Pune, India and working in Ratnagiri. I have purchased a under constructed flat as a Co-Owner in FY 18-19 in Pune. Possession will be after four years i.e. 2022. First Owner is my wife. We ...
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1answer
48 views

Tax deduction for penalty paid

Can I get tax deduction for my 2 Lakhs penalty paid to the company to break H1B bond. Is there any section I can mention about this 2 lakhs?
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1answer
132 views

Why many people are trying to sell their property in Southern Chennai?

I am planning to buy an apartment in Southern Chennai, India. I searched in a leading property website 99acres.com and wondering about some results. I searched all residential buildings+land in the ...
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2answers
154 views

Can I get a housing loan for my father's property

I want to apply for a home loan, but the property is registered in my father's name and he is no more. Is it possible? Can anybody help clarify my understanding of home loans?
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1answer
84 views

Can I be taxed if a colleague from abroad sends money to my NRI account in India?

I'm residing in USA and have some property in India. An acquaintance of mine who is residing in Dubai has rented that property. Can he send the rent to the NRE bank account I had taken for while I ...