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Questions tagged [india]

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

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0answers
29 views

Repatriate house sale proceeds to US by US citizen “Resident” in India [duplicate]

I am a US citizen, a long term "Resident" in India - that means I am not allowed to have an NRE and NRO accounts in Indian banks. How can I repatriate proceeds from my house sale as well as other ...
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1answer
477 views

NRE to savings account

I am living abroad for the past three years on a student visa, and therefore fall in the 'NRI' category. I have a NRE account where I had sent some funds from abroad. Lately, I have been thinking to ...
2
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1answer
442 views

Taxation on Income from P2P Lending Platforms in India

As P2P lending platforms are very new in India, what would be the tax treatment of the income from the P2P lending platform for the lenders. As an individual, will it be added to their income and ...
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2answers
136 views

Missing Quarter in Form No 16

My previous employer has mistakenly no mentioned the Q3 in my Form 16, but it has the details of Q2 and Q4. I have applied for a home loan and the bank wants it clear. But the problem is that the ...
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1answer
133 views

Tax on Profitable Crypto Transfers between the US & India

I am a non resident alien on F1 OPT living in the US, and have noticed an arbitrage opportunity when trading ETH [a cryptocurrency] between the US & India. Assume the following: I bought 5 eth ...
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1answer
47 views

Receipt of Funds from Outside of India via International bank transfer - Purpose of Remittance

If I am receiving money from international bank in my Indian bank account for my work done . I have to give explanation about the remittance. What is the minimum amount of receiving fund from foreign ...
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0answers
36 views

Selling property in India and bringing the money back [duplicate]

I am a naturalized US citizen living in NJ. I bought a house in India for investment purposes in 2008. I want to sell and bring the money back to the US. I bought this property 10 years ago when the ...
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3answers
733 views

Cash out mutual funds or stay invested? Risk aversion choice

I am from India. Stating this upfront to focus on Indian context , while the question is generic in nature and would like to get a wider response By way of background I am in late fifties , retired ...
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1answer
171 views

Trading US stocks from India with SSN

I had come to US for my masters and have an SSN. I would be returning back to India. Can I trade US stocks from India using my US stock brokerage(TD Ameritrade) ? When I pay taxes to IRS can I take ...
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1answer
51 views

Correct legal way of abroad income to indian savings account

In have been abroad for nearly four months and earning abroad in SGD. Now I would be returning back to india. My duration of abroad stay is less then 182 days. I want to transfer my earnings back to ...
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0answers
29 views

Queries about transferring money from India to USA when immigrating [duplicate]

We are immigrating to the USA in a few months. I need to transfer the sales proceeds of my Indian property to the USA, some months after immigrating. I also have a healthy mutual fund portfolio, in ...
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2answers
608 views

How much money can I send to India without paying taxes?

I need to send $28000 to my brother in India. I pay the necessary federal and state taxes in the U.S. Can I send this money in a period of one calendar year without paying gift tax? Can I send $14000 ...
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1answer
2k views

Tax implications on money transferred to NRE account from USA

I am on the H1B visa in the United States. I want to send money to my NRE account in India. Now I know I need to file Form 709 if I send/donate more than $14,000 per person per annum and anything more ...
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1answer
97 views

Not getting my wire transfer till 15 days

My money is not credited where my office is released the money on 4th Jan. Its exactly 12 working days gone but still I am not sure what is the problem. It is a wire transfer from Israel to India ...
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2answers
222 views

How to invest in Index Funds in India?

Being a Non-residential Indian (NRI), and being a complete "Newbee" in investment, I wish to know, how to invest in Index Fund in India? What steps are needed?
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2answers
84 views

Income Tax Deduction / Reimbursement of Rs.15000/- per year

Can the purchase of medical equipment like Blood Monitor Machine, Blood Sugar Machine etc. be claimed under the medical reimbursement or income tax deduction of up to Rs.15000 per financial year for ...
4
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1answer
70 views

Legality of Providing Online Stock Advice, as a Shareholder

Is it illegal to provide stock tips on online forums, if you are also investing or have invested in the same stocks?
4
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1answer
258 views

Charged 41.184% duty on a microprocessor. Is this the correct rate?

I purchased an Intel processor from eBay US which was sent to India via EMS. It arrived today and I got a hefty bill for INR 5120 which is 41% of the declared value of the item. These were the papers ...
2
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1answer
149 views

Sending Money Out of India

My friend has a situation that he'd like assistance with -- we've looked online for help, but we cannot find clarity. First let me 'set the scene'. Then I'll phrase the question concisely at the end. ...
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1answer
30 views

Send physical check in US funds from India

What is best way to get a check in US funds (preferably through SBI) which is to be mailed to US address later?
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1answer
67 views

Money transfer from India to my son in the United Kingdom

I want to transfer Rs 50000 to my son who is in the U.K. What is the procedure to be followed? I am now in Chennai, Tamil Nadu, India.
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1answer
28 views

Education Loan interest paid & loan completed 2016 | india | How to claim income tax

I bought education loan in 2006 and completed the loan with interest in March 2016, Is it possible to claim income tax against interest paid for this loan in FY 2017-2018 in India?
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1answer
46 views

Can a non-resident Indian continue to use existing resident savings account?

I have read at various places that the answer is no, but would like references. Also, please define what non-resident means in this context (e.g under the IT act vs FEMA act).
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1answer
148 views

Money from India to USA

I am a US citizen and own a house in India. I also have some business interests in India that I'm planning to wind up. I would like to know how to bring my money to US? What sort of interest will I ...
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1answer
140 views

How to start earning at an early age (in your teens)? [closed]

With lots of business opportunities coming up in the market, what would be the best one to adopt in order to earn some quick and safe money?
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0answers
95 views

Help with unique tax situation due to move between US-India-Canada

I would like to discuss my unique tax situation for next years filing so I could prepare for tax scenario in advance and make sure all documentation/filing is done properly. I am currently on H1B in ...
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0answers
41 views

NRI Indian customs question

Though info is avaliable online but I am not sure as it talks about Indian residents returning to India for good. I am a Singapore resident staying here for last 2 years. I keep travelling to India. ...
3
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1answer
126 views

Work for US Healthcare company from India - Tax forms [duplicate]

I have question regarding work arrangement for remote work from India for US company. My scenario. I am currently employed on H1B with a Healthcare organization based out of Indiana, US. My work ...
3
votes
1answer
220 views

Dispute for a VISA chip credit card

I had a chip based VISA credit card. In August, there was a fraudulent transaction of ~422$ by "HY VEE 1624" from the US. I immediately called up my bank (ICICI), blocked the card and raised a ...
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1answer
249 views

What are tax implications of sending USD 22000 to my brother's NRE account in India?

I want to send USD 22000 to my brother's NRE account in India. I pay taxes in the US. Are there any other tax implications for this transaction in US? Also, this money is not a gift. My brother will ...
2
votes
1answer
268 views

Transferring Money from India

I am living in US for 17 years and became US citizen October 2015. My brother who is living in India gifted me the property in India, July 2015. He registered that property in my name in 2014, that ...
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1answer
59 views

Funds for building an animal shelter [closed]

I want to build an animal shelter. There is only one in my city far away. My city requires atleast 10 more. I will make a Youtube channel and get some funds from there. Please give some avice, dos and ...
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1answer
2k views

How do I transfer regular savings to an NRE or NRO account?

I have a regular saving account with some amount in it, now I am an NRI so I want to either switch my saving account to NRE account or I want to transfer money from savings account to an NRE or NRO ...
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1answer
284 views

GST & TDS for international money - advertisement platform

Am from India and I've created an online platform(a webbased application) where ADVERTISERS can list ads(or campaigns) and PUBLISHERS can use this ads and promote them. So when ADVERTISERS pays me, ...
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0answers
63 views

Where should I pay tax as an Indian with an LLC in Delaware in the US?

I am from India and I am planning to register an LLC in Delaware US and will be operating completely in India. The majority of my customers will be from outside India and I will be paid either through ...
1
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1answer
71 views

Right account for local purchases, loan EMI, and investments

I am an Indian citizen working in Singapore. I have an education loan for which I have monthly EMIs. Currently I transfer money to my parents account and they pay the loan EMIs. Kindly advise on: ...
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2answers
343 views

Transfer money from India to US

I'm an NRI living in US. I want to transfer about 60 Lakhs INR from my NRO account in India to my US bank account. Entire money need not be transferred in one shot. It is fine to transfer it in parts. ...
2
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1answer
854 views

Do freelancers have to pay GST if they are providing services out of India?

If income as an individual freelancer in India is below 20 lakhs and if I am providing services to clients abroad then am I liable to pay any GST in India? Also what if the person gets orders from ...
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0answers
27 views

Converting INR fellowship money to USD

I am a US citizen, and have been awarded a fellowship that pays a lump sum of 300K INR. While I expect to spend some of that money when physically in India, I also have related expenses that need to ...
4
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1answer
46 views

Is there's a regulator or redressal mechanism for Broker Firms

I have account with zerodha. I have made a huge loss of 80000 rupees because of zerodha's system failure. I have raised this with Zerodha, they are neither replying nor do I see any effort to ...
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1answer
391 views

us citizen receiving bank transfer from foreign boyfriend

I have a boyfriend from India who has funds in Singapore and he wants to transfer several million dollars to my bank account before he comes to the US on a visitor visa. We hope to get married when ...
3
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2answers
90 views

Does the interest charged decrease if I pay my long term bank loan's major part earlier?

I have taken a long term bank loan.....say 10K. Suppose the interest charged is 10 percent. Now, I have a lot of surplus money with me due to unexpected cash inflows. I want to reduce the interest ...
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1answer
483 views

What is the import duty on computer hardware in India?

I find each international shopping site quoting different amounts as "Import Duty" for computer hardware (like processor, RAM and graphics card). Amazon's global store calculates it at 40 to 43% of ...
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1answer
361 views

Can I avoid tax on selling US stocks bought as an Indian resident

I am an Indian resident with an account in a brokerage which allows trading US stocks. I am aware that if I sell US stocks in this account while being an Indian resident, I will be taxed since these ...
3
votes
1answer
463 views

HDFC LIFE PROGROWTH PLUS WORTHY?

I’ve recently became a member of HDFC LIFE PROGROWTH PLUS plan. The person from my savings holding bank told me about this plan. He asked me to invest 25000/- per year for 10 years, you will get ...
3
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1answer
55 views

I have filed my e returns before the due date but I mistakenly entered the DDO TAN number

As I made a mistake in entering the wrong TAN number I have been charged a penalty (interest) and asked to pay the tax amount also.
2
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1answer
70 views

Need your help and suggestion

My father in law is planning to move here after selling all the property. He is planning to open the business in the USA. Can you please answer below question. How much amount can we transfer from ...
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1answer
33 views

Does the nav of (Indian) mutual funds with international/global commodities change during Indian public holidays?

Consider the example of the funds in this list. They all invest in international commodities. So, do their nav change even during Indian public holidays? [I have observed in my Zerodha dashboard. It ...
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1answer
2k views

Forgot to encash dividend Cheque!

My Mother holds shares in a public limited company [India], which announced it's interim dividend last year. Accordingly, they sent a cheque to her for her share of dividend, but she forgot to encash ...
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1answer
97 views

Annualized Rate of Return on Stock Purchased in Tranches

I am a retail investor investing directly in equities in the Indian stock markets. I would like to understand the correct way to compute the return on particular stocks in my portfolio, which I have ...