Questions tagged [india]
For questions that relate to the laws, practices, and products of India
1,397
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How is it not illegal and more importantly ethical for Additional Tier-1 bonds to be written off in case of rescue or liquidation of the company?
Additional Tier-1 (AT-1) bonds issued in India, as I understand is regulated by RBI, the central bank in the country. It seems if the company faces severe losses,the RBI can then activate a Point of ...
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Can I include GST, parking costs and Society Charge in Indian mortgage?
I am looking to buy 2bhk in Mumbai, and have somewhat finalized one property. Now my concern is my salary is good so I can pay more EMI but don't have enough cash in hand to pay.
When I checked with ...
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Interest for section 234B and 234C added while filing ITR
I'm working as a software engineer in an IT company.
I'm filing ITR form-1 for FY 2019-20.
My company had deducted and submitted TDS of around Rs 7000 on 6/01/2020 to IT department.
Initially, while ...
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Income tax returns acknowledgement upon processing
In India, does the income tax department send acknowledgements after processing incomes tax returns? I know that they send acknowledgement mails after the returns are e-verified. But I specifically ...
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104
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Working remotely for a Japanese company as a non-resident outside Japan
As the title suggests, I am currently performing remote work as an intern for a Japanese company. I am non-Japanese nationality residing outside of Japan.
Am I subject to the flat non-resident tax of ...
3
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1
answer
261
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Bank refusing to credit prize money
I have won a story-writing contest based in the US and the company has transferred $1000 minus taxes, so $695 to Kotak Mahindra Bank's Nostro account. I have submitted FEMA declaration at the bank and ...
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1
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226
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Do Indian YouTubers need to register for GST?
If an Indian professional earns 30 lakh per annum from his regular job and then 18 lakhs per annum from YouTube and Affiliate Marketing, do they need to register for GST?
The personal also earns 4 ...
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2
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100
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What causes fluctuations in share prices every second? [duplicate]
I am currently sitting on web (Zerodha site) and the 197 shares I bought for Rs 70 is now fluctuating between 65.5 to 70.25 appx. So what are the factors that are causing this? How long do one wait ...
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116
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Resident Alien - Receive Money from India
I am an Indian citizen working on a work visa in the USA.
What are the tax implication in the USA for the following scenarios when i need to get a money from India to USA.
1) Money received from ...
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1
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Can any index be converted to a respective trading instrument using F&O contracts?
Pardon me if this sounds silly, I am not a finance student but it seems to me that any index can be used as a trading instrument with proper regulations. For example much like forex, with currency ...
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1
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435
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What is the difference between "deemed to accrue and arise" and "accrue and arise" in section 5(1) of Indian income tax code?
Section 5 of Indian income tax act (1961) states the following:
Scope of total income.
(1) Subject to the provisions of this Act, the total income of any previous year of a person who is a resident ...
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Which ITR form should I fill if I am a working professional who also invested in stocks?
What ITR form (ITR-1, ITR-2, ..., ITR-5) would Indian professionals in private sector fill if they also did a little stock trading via Zerodha?
Also I did not do "intraday" trading nor I did ...
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38
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Can professionals with part time affiliate income opt for Section 44AD and Section 44ADA?
Can Indian professionals (Software Engineer) who also earn from online affiliate income like Amazon claim for presumptive income tax scheme like section 44AD or section 44ADA?
Under seciton 44AD, the ...
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2
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90
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Interest Benefit on Home Loan for pre-construction period, if foreclosed before 3 years after posession
I am living in India.
I want to know if I can claim tax benefit for the interest paid on my home loan under Section 24 for the pre construction period if I foreclose the loan before 3 years of ...
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2
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1
answer
959
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Tax implications on money transfers from India to the US
I am a NRI holding US Citizenship. I would like to repatriate INR (India) to USD from my NRO account from the proceeds of a property sale. I have paid all the taxes for the capital gains in India. I ...
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Money Transfer to UK
I bought a holiday apartment in Goa some years ago. I had an NRI account. The bank then changed it to an NRO savings account.
I sold it three years ago and the money was paid into this account.
I wish ...
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65
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Annual Bonus causing penalty under section 234C in India
My company pays bonuses in March because of which my taxable income also increases quite a lot.
Because of this, I am being charged penalty fee under section 234C due to shortfall of meeting -
15% ...
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1
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532
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How is capital gains from sale of listed bonds taxed in India?
Bonds in question:
INE092T08CD4 IDFC FIRST BANK LIMITED TRANCHE-1 SR-II NCD 12NV20 FVRS5000
An Indian resident purchased these bonds in fy2010 and sold them in fy2019 - a year before maturity - and ...
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1
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149
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Why choose NSE MFSS and/or BSE StAR MF?
While reading disclosure material published by mutual fund houses, I came across a discussion of the Mutual Fund Selection Service by NSE and the StAR MF service by BSE. To be precise, it was pg 50 of ...
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1
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92
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Tax implications of the interest earned in India
I have some questions regarding tax implications of the income in India from the following sources.
NRE Account (FD and Savings)
NRO Account (FD and Savings)
Mutual Funds
Interest in NRE account is ...
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2
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0
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87
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Is it wise to have two health insurance plans?
I have not come across many articles discussing this topic, but I am guessing if it wise to have multiple health insurance plans. For example if there are two top health insurance plans. If I wanted ...
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1
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486
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Financial planning for Indian baby born in USA
I am an Indian citizen and currently reside in the USA with a student visa (F-1) along with my wife (F-2). Like a couple of months ago we are blessed with a baby boy. Now that he was born in the USA, ...
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1
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195
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Invest in both PPF and VPF
Is one allowed to invest in both VPF (Voluntary Provident Fund) and PPF (Public Provident Fund) in the same financial year and is there a limit on the same?
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1
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93
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Tax- Treaty benefits for USA-India for an Individual who earned Royalty
I have received a royalty from one of the projects I worked on when I was a student at USA University. For the last 5 years, I have moved back to my home country India where I now live and work.
I ...
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0
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28
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India to UK bank transfers
Is a UK passport holder with an Indian bank account in Kolkata, allowed to transfer money to their son's UK bank account as a gift. He is a UK passport holder.
Thank you
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2
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132
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IT Contractor Working for UK Client
How does an IT contractor provide consulting services from India to a UK Client?
Do we need to open a IT Services Private Limited Company in India or are there other options, also helpful on how much ...
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2
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126
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What drives a share price to stay up even when the fundamentals are weak?
Check this.
The market cap of this company is not even close to other companies with the same CMP, let alone the fundamentals.
And It manufactures a variety of heavy equipment, such as that used for ...
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What does an L mean at the end of the salary in India?
In the following job ad in India, what does the L mean at the end of the number?
Expert level Data Engineer
Bengaluru
₹15L – ₹20L
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338
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Advice with CTC (Fresher)
What would be the in-hand salary for the CTC 8.4 lakhs (breakup attached in link)? Are they just ballooning up the figure? What would be some reasonable points to discuss with them before I accept ...
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What happens when the 'offer price' drops to zero?
I am aware of the basic idea of the 'offer price qty'. It's basically the number of shares available for you to buy at some instance. But what happens when this quantity drops to zero (i.e. there are ...
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1
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188
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Income from India to US
I have a pair of married clients from India who lent their son money to buy a restaurant in India. They now reside in the US and are naturalised US nationals, and now that the business is profitable ...
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Taxation of US LLC in India
I am a non-resident of the USA, and a resident of India for tax purposes. Suppose I set up my US brokerage account as an LLC in the USA. What taxes will I owe on this account in India? What taxes will ...
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Can I deduct anything from my Taxes if I send money back home for my educational loan?
For the tax year, I was on an F-1 visa. I routinely send money back home to India for my educational loan/ family purposes. Can I deduct this from my taxes?
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2
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Stocks with buyers only
I have Alok Industries stock NSE in my portfolio, everyday it increases by a fixed percent 4.95 and moneycotrol websites states everyday that "buyers only". What's the matter and will I face ...
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173
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How long to wait before spending wire transfer money?
I made a trade online and someone wire transferred me some money. There's a possibility that the person might reverse the transaction. So how long should i wait before it is confirmed that the money ...
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2
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119
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Estate tax in the USA for non-residents
I read that the estate tax for non-residents on their US assets can go up to 40% with the first $60000 tax exempt. Suppose, as a non-resident, I have a brokerage account holding US stocks with the ...
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2
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1
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Tax treatment in India on a Resident Indian on money he earned in UAE as NRI earlier
I worked in UAE from Sept'2006 to Mar'2014 and came back to India permanently on April'2014. Before returning to India, I invested some amount in USD dominated bonds through a local bank in UAE on Mar'...
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0
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83
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1040 NR Line 22 Schedule OI
Line 22 of 1040 NR is "Total income exempt by a treaty from page 5, Schedule OI, item L (1(e))"
I am a resident of India for tax purposes, and I was not able to identify in the India-US tax treaty ...
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2
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139
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How to calculate average in intraday trading of NSE/NIFTY equity shares?
I am beginner in intraday trading of NSE equity shares in Zerodha. Sometimes I have failed to calculate the average when I trade the same shares multiple times during the same day. For example:
...
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1
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75
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Offsetting long term capital loss in India
How do I offset long term capital loss on equities in India?
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90
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Long term capital gains tax on equities in India
Which of the following is applicable to long term capital gains on Indian stocks and on foreign stocks?
a) Long-term capital gains are subject to tax at 20%;
b) Long-term capital gains arising from ...
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1
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Short term capital gains tax on equities in India
I read that the short term capital gains tax in India is 15% if there is securities transaction tax, and if there is not, short term capital gains is taxed as ordinary income. I have the following two ...
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1
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Net short term capital gain in India [duplicate]
Suppose I have two securities A and B in India. I sell A at a profit of 100 INR, and B at a loss of 90 INR. Both transactions are short-term. So my net gain is 10 INR. But I buy B immediately ...
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2
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221
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Indian taxation on after-tax retirement accounts such as Roth
How does India tax US after-tax retirement accounts such as the Roth IRA for a person who is a US non-resident for tax purposes starting age 59.5?
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318
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Traditional IRA distributions taxation as non-resident
I left the USA for India in 2019, and expect to be a non-resident for US taxation purposes when I turn 59.5. In the India-US tax treaty Article 20 Clause 1 states
"Any pension, other than a pension ...
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2
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1
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73
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Taxation of foreign capital gains for Indian residents
How are capital gains on specifically foreign stocks taxed in India for Indian residents? Are they added to income and taxed at ordinary tax rates? If yes, can capital losses be deducted from ordinary ...
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1
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143
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NPS contribution charges and eNPS
What are the benefits of eNPS?
How can we avoid (a) POP trail commission & (b) Payment Gateway Charge while making a contribution in NPS Tier-1 account?
3.What is the recommended/generalized % ...
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1
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48
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Withdrawal from ELSS in India
If I invest in ELSS under section 80 C, I am given to understand that I can withdraw the money after 3 years.
Do I need to get my employer involved while withdrawing the money?
Is the money tax-free ...
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1
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35
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Taxation of EPF withdrawals
I have made contributions to EPF in India under section 80C for saving on taxes. But I read that the money is taxable on withdrawal unless one works for five continuous years.
What if one ...
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1
answer
38
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Personal investment portfolio set up as business
I have an investment portfolio in the USA, but I am now in India. To save on taxes on capital gains in India on this portfolio, would it help to set up trading in this portfolio as a business? What ...
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