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Questions tagged [india]

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

0
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1answer
73 views

Taxes should be paid by a contract position employee

Can anyone please guide me with information about the taxes should be paid by a contract position employee. I got an opportunity to work as a contract employee to a company in US from India. Should I ...
2
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1answer
2k views

CTS 2010 cheque (pay self or pay yourself) correction and clearing process (India)

Form RBI FAQ on CTS cheque correction: For any change in the payee’s name, courtesy amount (amount in figures) or legal amount (amount in words), fresh cheque leaves should be used by customers. ...
2
votes
1answer
478 views

Is IQ Options trading on companies like Apple or Facebook Illegal in India?

I'm asking this question because, I know that FOREX Trading in India is not legal, so is it legal if we trade options on companies like Apple or Facebook using IQ Options or Expert Options or ...
3
votes
2answers
14k views

Is a loan from a friend taxable in India?

If a friend of mine transfers money (say 5 to 10 lakhs Rs) to my savings account, does that amount count as my income and do I have to pay tax on it? Will the Tax authorities question me ? Should I ...
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3answers
200 views

Can I ask for a credit card upgrade within 6 months?

This is my first credit card, and it is just 2 statements(months) old, both paid in full before due date. I get invited to tech conferences frequently, so I do international flight bookings almost ...
1
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1answer
125 views

Is there a possibility to negotiate for reversal of charges levied on our savings account with a bank in India?

Does Reserve Bank of India regulate any of the charges levied by either Private or Public sector banks on our Savings accounts? If so, is there a possibility for us to negotiate for the reversal is ...
-1
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1answer
859 views

Determing folio number from demat account

I am holding the shares of Cauvery Software Engineering Systems LTD. in my demat account but I do not know the folio number and the serial numbers of the share of the company. Can anyone help me in ...
-2
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1answer
460 views

Why dont people in foreign countries buy bitcoins directly from USA

I had a query related to buying and selling bitcoins from a foreign country like India where bitcoins can be bought locally now. I was wondering why people in India buy bitcoins locally through the ...
3
votes
1answer
59 views

Tax rebate for home loan of under construction property

I am living in a rented house. This year (F.Y. 2016-17) I have booked an apartment in the same city for which I will get the possession after 3.5 years. I have opted for CLP and I am paying the EMI ...
3
votes
2answers
534 views

Why Indian credit cards don't ask for 3D Secure when transacting internationally?

I am from India and hold a credit card. While transacting in India, it always takes me to 3D Secure authentication page. But while paying in AliExpress, it never takes me to 3D Secure page, yet ...
1
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3answers
94 views

Is it wise to invest money in NPS in India for tax saving

My 80C section is filled for tax saving. In addition to this, I see that NPS provides 50K more for tax saving. I am planning to go for NPS Tier-1 SBI funds - Government Securities. Does anyone know ...
2
votes
2answers
869 views

How can I buy USD or convert INR to USD, having INR in my bank account and end up having USD in my bank account?

I have INR (Indian Rupees) in my bank account and I wish to convert INR to USD and keep my money in USD in my bank account so that I can transfer amount in USD to US account to avoid more commission ...
0
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1answer
85 views

Is there an ETF which tracks BSE or NSE among ELSS funds eligible for tax deductions under 80C? [closed]

Is there an ETF which tracks BSE or NSE among ELSS funds eligible for tax deductions under 80C? I see a list of ELSS funds here, but do not see consolidated listing of expense ratios or fund types..
0
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1answer
404 views

Can an Indian citizen/resident invest in a US company and collect the profits in India?

I have Indian residence and want to invest money by investing in an existing business in the USA. The total investment is $650k USD under a single name or $350k under two names. I / We are procuring ...
0
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1answer
174 views

Loan Prepayment

I will be applying for a car loan shortly, and trying to evaluate various lender schemes. I was not really sure when its mentioned as No Pre-Payment Penalty or Foreclosure Charges Let say I have ...
1
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2answers
381 views

How do I calculate the actual dividend amount for a monthly dividend payout mutual fund?

I'm trying to compare the performance of monthly income plan at banks and in mutual fund, not considering any other risks and hoping the performance stays steady. An example for my understanding: The ...
0
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1answer
71 views

Tax situation of Indian lady becoming foreigner after marriage

What will happen to an Indian citizen's income tax file when she gets married to a foreigner and acquires foreign citizenship? Can she apply for an Aadhaar card as a foreign resident in India? In ...
2
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3answers
627 views

How to transfer money from an ATM card in a village in India without an ATM machine or smart phone?

Is there any way to transfer money from one account to another account using only an ATM card? We don't have a card swiping machine or the Bhim app. I have a shop in a village where ATM and card ...
0
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1answer
56 views

Will one’s education loan application be rejected if one doesn't have a payslip providing collateral?

Is it possible to reject education loan by SBI/IOB for abroad if don’t have payslip where parents are doing small business but provided necessary collateral which is worth twice the value approved by ...
1
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0answers
9k views

How to fill W-8BEN form as an Indian?

I'm a freelancer (individual), Indian citizen working from India and I've to fill the form W-8BEN for a client based in US. I receive the money from the US source into my savings account here in India ...
1
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1answer
59 views

Property registration policy

My mom owns a property at Tanjore which is not ancestral instead purchased by Dad's self earning and registered on my mom's name. Recently they built a house on that land getting housing loan from SBI ...
0
votes
1answer
1k views

Money Repatriation from India to UK

One question on money repatriation, if I bring money from India to UK. What is the tax implication in UK. If money is coming for Money is repatriated from NRE account Money is repatriated from NRO ...
1
vote
1answer
53 views

How much of tax-paid money can I keep in the US, as an Indian citizen?

I work for a company in India which is listed in the Nasdaq. Recently, I sold some RSUs, the proceeds (after tax deduction at the time of sale) of which is lying with the bank account associated with ...
0
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1answer
209 views

Why would a country want to use the currency of some other country? [closed]

Indian Currency (INR) is used by Nepal & Bhutan. US Currency (USD) is used by many countries including East Timor & Panama. What advantages (& disadvantages) are there, for the "using" ...
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2answers
336 views

What is Systematic about Systematic Investment Plan (SIP) and who invented it?

What is Systematic about Systematic Investment Plan (SIP) and who invented it ? Even if we invest in real estate, or recurring deposit, we do it systematically; Why is only SIP considered systematic ?...
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1answer
95 views

Will my credit score be affected for credit card application rejections?

I have got my credit card this month. So, the next month would be my first payment of my bills [Will pay it in full] However, I travel a lot, and I get offered credit cards in airports [via the ...
2
votes
1answer
186 views

Tax on remittances from UAE to India

My son is working for a company in the UAE. His salary is paid there in AED and every month he transfers some money to his mother's account in SBI. Does my wife have to pay tax on that?
0
votes
2answers
187 views

Is there any loan that leverage tax for H1b holders?

I am here in US through H1B. I have a decent amount of loan back in India. Also I am paying a lot in Tax here. Is there any way I can get any loan here in US and pay off my loan in India and reduce ...
0
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0answers
124 views

Money SWIFT Transfer to India in USD

I sent money from my bank in Oman to a bank (J&K bank) in India. The transfer was in USD. I had initiated the transfer in April-2016. The money was returned (when it is not known. I suspect ...
2
votes
2answers
313 views

The most appropriate ways to keep money ready for emergencies?

Background info: My financial planner advised investing money in debt funds, mutual funds as long term investments, where in case of an emergency for large amounts, I could withdraw from the debt ...
-1
votes
1answer
122 views

How do I minimize my taxes as an IT Employee in India?

I am working as java developer in start-up software company. My monthly salary is 30,000. The company takes my money as tax (1,500/month tax), and 2,000 for a food plus card. How do I get all of the ...
-1
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1answer
83 views

Legality issue in operating trading account [closed]

In India I used to operate my mother's trading account however later this year, I'll be moving to USA. My mom will stay in India itself. So, would it be legal if I'm operating my mother's trading ...
0
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1answer
2k views

Money received from friend will be taxable? It was transferred to builder on behalf of friend from nre account

I have transferred money (20lac+) on behalf of a friend to builder as slab payments from my NRE account. The friend is going to dispose old flat and pay back that amount. Can this amount be taken back ...
2
votes
1answer
2k views

What are tax implications in NRE/NRO Account

I am a service holder having Indian nationality and residing in Finland for more than 14 months. I do not have any income such as from rent etc in India. I have couple of bank accounts (normal ...
-1
votes
1answer
113 views

Undeclared income - more than 2 years [closed]

I have undeclared income that is more than 2 years (Exactly 2 years and 2 months), in a US bank account. I would like to bring that money to India. Can I bring that money back to India, declare it ...
1
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1answer
23 views

Is LIC MF ETF NIFTY 100 deductible under Indian Income tax sec 80C?

Is LIC MF ETF NIFTY 100 deductible under Indian Income tax sec 80C? http://www.incometaxindia.gov.in/Charts%20%20Tables/Deductions.htm lists: ■ Subscription to any units of any approved mutual ...
11
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1answer
3k views

Should the bank cover money lost due to an unsuccessful transfer?

Recently I have transferred money from Deutsche Bank, Germany to Standard chartered Bank, India. My transaction was not successful due to an Indian Government policy change for demonetization. The ...
1
vote
1answer
207 views

Lumpsum investing in EPF/VPF

Currently, my employer deducts a basic amount from my pay for contribution toward EPF. I have voluntarily increased my share. I want to know if I can deposit a lumpsum into this account. If so, what ...
0
votes
1answer
73 views

Making enquiries about shares

My father had bought shares in 1999. I do not have any physical record of this, as they are held by one of my father's friends, who is not available right now. Is anything possible, and if so, how?
1
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1answer
324 views

Money transfer from India to US scam

The US bank BOA sent $6,000.00 to India to be sent to me in US. But India won't transfer the money to me until I pay $1,200.00 for taxes. I was told the FCAI will hold it till I do. The funds are a ...
1
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1answer
61 views

Sector Mutual Funds vs Index Mutual Funds

I have data from Indian Mutual funds from 2006-2016 that indicates that one would be significantly better off investing in a bunch of sector funds over index funds/a bunch of index funds. Is there any ...
1
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1answer
297 views

How to calculate and pay income tax when switching companies twice?

Now this is slightly complex (at least for me) and also the first time. Movement between companies: I was with Company A till Mid-November 2016. Quit Company A and joined Company B in November-End ...
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votes
1answer
96 views

Limits and taxation of receiving gift money, in India, from a friend in Italy?

I live in India and have a friend of mine who lives in Italy. He wants to send me money, as a gift. I'll probably be using that money to invest in stock market. What I don't know is that how much ...
1
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1answer
52 views

How do I verify tax paid or not for me in startup IT company?

I am working on startup IT company in India. The company takes tax every year (1500 Rs) and gives sudexo cards for 1000 rs every month to me. My question is how to find out if they really paid tax for ...
2
votes
1answer
67 views

Getting the US Immigration

We are going to USA on Immgiration Visa and we have funds in our NRO account. If I transfer these funds to my son before I travel to USA, who have to pay taxes, I and my wife are Tax payers in India, ...
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votes
1answer
69 views

What are some precautions with Foreign Exchange Management Act, India when earning money through Forex in India?

I have almost $7 Million to trade in forex and I am learning new forex strategies day by day and mastering two of them. I have trading with my demo account for almost 5 months but I am still not able ...
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0answers
41 views

Transfer of funds to the US from India [duplicate]

I am selling my apartment in India and will invest a part of it in India. I want to bring approximately $50,000.00 to the US. Both my daughter and I are Resident Aliens (green card holders). How much ...
0
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0answers
74 views

Can I claim a deduction for interest on a second home loan before I took possession?

I have received the letter for possession from builder in the month of March 2017. I have paid the interest for the FY16-17 as 2.0 lakhs. I have still not taken possession of the property. Can I claim ...
2
votes
1answer
46 views

Transfering funds from India to the US

I am a US Citizen doing business in India as well as US. Can I transfer funds from India to USA which I have borrowed in India. Is there a limit on one time transfer of funds from India to the US?
0
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1answer
237 views

Unable to transfer money from US bank account (checking acct) to NRE/NRO

I want to transfer some money from my USA checking account to my Indian NRE and NRO accounts but unable to do so. I did try online under Transfer money (add external account using routing number) but ...