Questions tagged [india]
For questions that relate to the laws, practices, and products of India
84
questions
48
votes
9
answers
21k
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How do credit card companies make profit?
How do credit card companies make profit by giving us credit for 40-50 days (India). I purchase something on my credit card and I pay it to the credit card company after some days. How are they going ...
- 767
8
votes
1
answer
92k
views
Money transfer from India to USA
My daughter is a US Citizen. We (parents)are also planning to permanently settle in US. We will go their as Permanent Resident,as per US Law. We have a house here in India worth Rs.2 Crores. We want ...
5
votes
2
answers
4k
views
How does remittance work? How does it differ from direct money transfer?
I have a bank account in Germany in which I receive my salary in Euros. I want to deposit a part of it in my Indian bank account for personal savings. My Indian bank account is in INR. As I see it, I ...
- 189
2
votes
1
answer
2k
views
Transfer Money from My Account in India to my account in the USA
I am an Indian citizen living in the USA.
Can I wire transfer money from the my NRO account in India to my checking account in the USA? This money, I originally wire transferred from my checking ...
- 21
5
votes
2
answers
13k
views
How does order matching happen in stock exchanges?
When I place my trade order in the stock exchanges, I know the price matching happens and only when there is a buyer and seller at the same price a trade happens.
But how does the quantity matching ...
- 51
6
votes
1
answer
62k
views
Tax implications in India for sending money to India from US
I am planning to transfer around $8K-10K in my parent's bank account(Joint bank a/c) in India . I have read a lot of posts(like Will I have to pay taxes in India when I transfer money from a US bank ...
- 63
4
votes
1
answer
539
views
Indian Demat account
I just converted my savings account to NRO and created a new NRE account. Now the bank is asking me to convert my demat to NRO demat where I need to close my exising demat account and open a new NRO ...
- 75
4
votes
1
answer
3k
views
Indian citizen wants to work as a freelancer for Europe. How to pay tax in India?
I got an offer to work as a freelancer for a European company. In Europe, it's like you need to set up a small legal entity on your name but is this the same in India? How can I do freelancing in ...
- 41
4
votes
2
answers
6k
views
Remittance of gift money from Indian bank account to UK bank account
I was born in India and came to the UK 11 years ago when I was 20 years old. I'm a British Citizen and hold a UK bank account.
I also have an Indian bank account which is managed by my father in ...
- 43
2
votes
1
answer
407
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 ...
- 21
13
votes
2
answers
110k
views
Will I have to pay taxes in India when I transfer money from a US bank to an Indian savings account?
I am currently in US, and would like to transfer some amount from my US Bank account to a savings account based in India on a monthly basis through a third party like Xoom or Transfast.
If I'm going ...
- 131
7
votes
2
answers
26k
views
Cashing a foreign check in US
Is it possible to deposit a check issued by a foreign bank in a US bank?
To be specific, I would like to know if I can deposit a check issued by a bank in India in INR in my bank in US. I was able to ...
- 437
6
votes
1
answer
8k
views
what is DEMAT equivalent in USA
I am new to USA. In India to trade in market one needs a Demat account and a trading account. but In USA, when I opened an account with a reputable brokerage there was no mention of an account similar ...
- 1,055
6
votes
2
answers
9k
views
Do I have to pay taxes on PPF in USA?
I am going to work on H-1B in US for next 3 years. I am sure that I will return to India after 3 years and do not want to permanently settle in US.
In order to invest money in India I am planning to ...
4
votes
2
answers
966
views
why don't banks invest money in mutual funds or shares instead of giving personal loans
Banks offer personal loan at interest rate of 11 %, but why don't they invest those money in mutual funds or shares and earn more ?
- 145
4
votes
1
answer
5k
views
How to transfer inheritance money from India to USA
I'm a US citizen. My father, who was a citizen of India, died last year. My father had CD in Banks and a property in India. The property was legally sold and all taxes in India paid. We are 4 sisters, ...
- 41
3
votes
1
answer
25k
views
Transfer from regular savings to NRO account
I have a regular savings account in India and a NRE/NRO account as well with a different bank. I just haven't gotten around converting my regular savings to NRE/NRO. Can I move my funds from regular ...
- 131
3
votes
1
answer
1k
views
Income tax in India for NRIs in USA
I left India on 8th October 2014 and started working in USA from 13th Oct 2014. For my income in India, my employer deducted tax at source (Rs 30,000). In US too, my employer deducted tax at source ...
- 167
3
votes
3
answers
54k
views
How can I trade in U.S stock exchange living in India by choosing the broker in U.S? [closed]
I would appreciate if you kindly suggest an answer for this question.Anything incomplete in this question should be assumed.
And also please suggest which is the best brokerage firm/broker for this ...
- 549
3
votes
1
answer
11k
views
Gift money transfer from India to US
I'm an Indian citizen. I want to transfer $20,000 to my son-in-law, who is a Canadian citizen living in US. My daughter is an Indian passport holder currently living in US on a H4 visa. I want to ...
- 31
2
votes
1
answer
1k
views
233 days India/132 days US - entire US salary taxable in India?
I was living in India for about 7 and half months in FY2013-2014 working as an independent consultant for a US company. I moved to USA for employment on Nov 20 2013 to work as an employee for the same ...
- 133
2
votes
2
answers
2k
views
Wash sale rules in India (NSE/BSE)
Is there any tax law prohibiting losses booked due to wash sales rule in Indian market?
e.g. If I buy a Sun Pharm stock at 634. After 10 days, I sold it at 609.25 and buy again at 608.75 in the same ...
- 121
2
votes
1
answer
13k
views
Will it be taxable if I transfer money from UK account to India account?
I am a resident of India and currently in UK for 1 year on a work permit where I am getting salary in Pounds. My Indian salary has stopped till the time I am back in India.
Now, I have a Home Loan ...
- 21
2
votes
1
answer
242
views
US Salary Transfered to Indian Acc and Tax Relation
I am on an H1b visa working and receiving a salary in the US. I have transferred approximately $15-20k to my account in India Account (not an NRE account).
How would this transfer affect my taxes in ...
- 21
2
votes
3
answers
5k
views
Tax questions - Working from India for US company
I am working from India for a US company and as per my knowledge I am not liable to pay any tax to US govt.
My first question is can I have them deposit my pay check in US account without any ...
- 21
2
votes
2
answers
734
views
Paypal Chargeback
I have started a software consultancy, I plan to get money from customer in US using paypal to me in India. If the customer has a dispute and I don't agree to refund back.
Can paypal get money from ...
- 41
1
vote
2
answers
1k
views
Tax on Money transfered to India from UK?
I'm from India came to UK on Feb 4th 2014 and I will be in UK till Sept 30th 2014. I'm earning money in Pounds, and paying tax as per UK tax policy. I could save some money which I transferred to ...
- 11
1
vote
2
answers
414
views
Tax implications of transferring money to retired parents (India)
I transfer some amount of cash to my parents for their groceries every month. What are the tax implications for this amount?
Do I get any tax exemptions for this sum?
- 233
1
vote
2
answers
20k
views
Transfering money from NRE to saving account is taxable or not
I have an NRI status. If I open NRE account(Yes BAnk) and transfer euros to this account from my overseas account. I understand its non taxable.
My question is, if I transfer money from my NRE ...
- 11
1
vote
2
answers
3k
views
Buying property in India : FBAR declaration.
I am on H1b visa in USA and thinking about buying property in India.
If I buy any property in india,do I need to report my property in USA income tax return, FBAR or anywhere else? Do i need to pay ...
- 163
22
votes
1
answer
58k
views
What is fuel surcharge in India?
In Bangalore (INDIA), when you purchase fuel with cash, you never have to pay for a 'fuel surcharge'. When you pay for it using your credit or debit card, a fuel surcharge is added on later? What and ...
- 395
21
votes
4
answers
8k
views
Undated cheque was given by client but client asks me continually not to deposit it
I received a cheque 3 months ago, which my client gave me to start a project and there's no date on the cheque. My client told me to ask him before depositing the cheque. The cheque was advance ...
- 493
13
votes
3
answers
3k
views
Interest rates on fixed deposits in India: Why would rates for 1 year deposits be higher than for 2 years?
Currently, in India, banks are offering very high rates on Fixed Deposits (FD). What I am curious about is that the rate is often higher for a 1 yr lock in period than a 2 yr lock in period. I would ...
- 15.9k
13
votes
2
answers
14k
views
Indian citizen working from India as freelancer for U.S.-based company. How to report the income & pay tax in India?
I am an Indian citizen and I work from India as a freelancer for an U.S.-based IT company. I am getting monthly payments directly into my Indian bank account. My colleagues' monthly payment come to my ...
- 131
11
votes
2
answers
3k
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?
- 245
6
votes
3
answers
12k
views
If I am Indian citizen residing in US and earning there, do I have to pay taxes to India?
Say, I am an Indian citizen and living and working in US, do I still have to pay some taxes to Indian government? My first thought is why should I be paying taxes to Indian government because neither ...
- 249
6
votes
1
answer
4k
views
Transferring money from Foreign Account to NRO Account in india - is it taxable?
I'm working in Maldives.
I'm transferring money from my Maldives savings account to my Indian
Savings account(NRO). Will it be taxable in India?
Again I'm transferring the money from my Indian ...
- 163
5
votes
1
answer
15k
views
Transfering money to personal saving account in India
I am currently residing in Qatar since 2 years. I am transferring my salary from Qatar to my personal Indian savings bank account. The amount I used to transfer is used for general expenses.
Do I ...
4
votes
1
answer
3k
views
Tax consequences of working for US company from India
I found a job at a US-based company, and I would like to do all my work for that company while residing in India. My questions are:
Can said company deposit my salary check directly into my account (...
- 43
4
votes
0
answers
161
views
Tax status decision
I left the USA for India on 1/31/2019. I was present in the USA in 2018 but for 15 days, and for the whole of 2017, and in 2016 except for 15 days. Will I be classified as a resident alien, non-...
- 1,064
4
votes
1
answer
7k
views
How can I cash US treasury check in India?
I have a United States Treasury check. Please let me know how to encash it in India. I tried ICICI bank but they are unable to process it.
- 41
3
votes
1
answer
463
views
What percentage of my money should I invest outside my country?
I live in India, and invest in both Indian and international equity mutual funds[1]. What percentage of my portfolio should I invest outside India?
I thought that since India's GDP is some 3% of the ...
- 672
3
votes
2
answers
2k
views
What is the maximum amount of money that can be transferred from India to USA?
Here are a few facts before I put in my question:
I am a non-resident alien transferring a limited amount ( in dollars post tax) to India every couple of months.
I put that money as a fixed deposit ...
- 39
3
votes
2
answers
6k
views
How to send money as Gift to Grandson for college education from india to USA?
I am a senior resident Indian of 73 years age. I am submitting IT returns regularly for the last 40 years.
My son-in-law, daughter and 2 grandsons are in USA. They are green card holders. Elder ...
3
votes
2
answers
4k
views
Are distributions from Roth 401k or Roth IRA accounts taxed in India?
I am wondering if India distinguishes between pre-tax and roth IRA/401k accounts.
So, if I am contributing to a roth account (401k and/or IRA) - would I have to pay taxes in India again:
On the ...
- 157
3
votes
1
answer
54k
views
Can I transfer money from an NRE account to a USA checking account?
I want to transfer some money from USA checking account to my Indian NRE account
to get the benefit of a good interest rate. But when I need this money back in
USA, can I transfer money from my NRE ...
- 163
3
votes
1
answer
1k
views
Global Income tax in India & tax credit
I am Indian citizen who was working in US from 15/11/15 to 31/03/16
i.e 137 days, that means I am resident tax payer like all other Indian citizens for FY15-16.
As per tax treaty they clearly mention ...
- 161
3
votes
1
answer
566
views
Do i need to pay taxes if i stayed more than 183 days in financial year?
Date of entry - 17 Nov 2013
No. of days in India - 231
No. of days in USA - 134
For duration of US stay, I got regular pay with all tax deduction. I did file US tax returns for 2013.
By Indian tax ...
- 31
3
votes
1
answer
2k
views
As a freelancer, how to receive money from overseas company to my individual bank account in India?
I am working as a freelance software developer. Recently I got a project from an overseas company. I asked them to send money through ICICI Bank Money2India.
The first payment made it successfully ...
- 31
3
votes
2
answers
22k
views
How much tax should I pay in US on interest earned on my NRE a/c in India?
I am a person on H-1B who passes Substantial Presence Test.
I have transferred money which I saved from my salary to my own NRE account in India. I think that I can transfer any amount without paying ...