Questions tagged [inr-indian-rupee]
The inr-indian-rupee tag has no usage guidance.
52
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Is this eRupee email from my bank a scam?
I received an email like this, supposedly from my bank.
It is unclear to me if this email is just some kind of scam. On the one hand, GMail seems to have put a blue checkmark, indicating that the ...
6
votes
1
answer
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What do we mean by Over Payment in Payslip
i just got my salary and noticed that there is deduction of some amount under Over Payment. The salary slip is given in the form of a table. The table has 4 columns and many rows. For the purpose of ...
- 171
2
votes
1
answer
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Income tax exemption on gifts given to parents in India
Assuming that if a person has a total taxable income of INR 20 lacs, and that person gifts his parents jewellery worth INR 2 lacs. Does the total taxable income of the individual reduce ? If yes, by ...
- 123
8
votes
2
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Should I still pay the minimum amount due even if my outstanding amount is 0?
I'm using an ICICI bank credit card, and there are two amounts of importance that are visible on the online dashboard: Current Outstanding, and Minimum amount due. I did a transaction of Rs. 1500 on a ...
- 181
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votes
2
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Remittance from Europe to India EUR - INR
Alright the problem is not as simple as it sounds. Let me explain.
I closed my German bank account after moving to India. The bank said they wouldn't do the international transfer to my Indian account ...
- 111
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1
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ULIP investment
I am from India. I have a ULIP(Unit Linked Insurance Plan) which Premium cost me Rs X00000 per year which I started in June 2019. Plan name is ICICI PruSignature.
The plan is for 5 years and I have ...
- 3
1
vote
1
answer
150
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About exchanging foreign currency
I have a friend in London and she has sent me a parcel with 9000 GBP in cash. How can I exchange it for rupees in India?
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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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Is it wise to invest money in USD or INR? [closed]
I have both USD and INR, and considering the interest rates are the same, which one is better to maintain the maximum currency in to yield maximum profit?
- 101
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0
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Transferring money from India to US
I am a US citizen with OCI (overseas citizenship of India). I took a loan for 14 lakhs from my bank in India for some emergency purposes but never utilized for those purposes. Now can I convert the ...
2
votes
1
answer
195
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How can I exchange a small amount of USD to INR?
My grandma has gifted me 20 US dollars. How can I exchange it for Indian rupees? I don’t have a passport or pan card. I have tried a few forex sites and they asked for a passport but I don’t have a ...
0
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108
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Relocating to India and reg remittances
I am relocating back home. I am trying to transfer my tax paid salary saving to a joint ICICI account in which My mother is primary account holder and I am secondary.
I will be using money transfering ...
4
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2
answers
2k
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Bank asking first transfer to be a wire transfer to NRE account
I have opened an NRE account with IDFC Bank. They are asking me that my first fund should be transferred directly from my US bank account (possibly through wire transfer). Is there any rule like this ...
- 141
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0
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Transfer money from US checking/saving account to NRE account [duplicate]
I want to transfer money from my US saving/checking account to Indian NRE account. How can I do it?
Will transferring directly from my US account to bank account will give me best rates?
or Should I ...
- 111
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votes
3
answers
864
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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 ...
anon
5
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2
answers
4k
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Filling the W-8BEN Form as an Indian Student
EDIT : So, I also opened a thread in Topcoder's Forum and I filled the "Reference number" field as "-" and in the tax treaty section, I just filled my country and all the other boxes were filled with "...
- 153
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Mutual fund investments in India to be reported in USA. What's the limit of amount to be reported?
While filing tax return in USA, the income earned in India, which months to be considered? After December will the gains earned in India be considered for next FY income? Means from December to March ...
- 21
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4
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675
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Fees for using mastercard/Visa card at a place which accepts payment in other currency
I want to know what are the fees involved when we pay online using Visa/MasterCard to a service which accepts payment in some other currency. I have very little knowledge related to this.
I am from ...
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1
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1k
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Logistics of Hedging INR investment with USD INR future
I am a beginner so please forgive any gaps in my understanding of Forex Futures. Based on RBI's decision earlier this year to let NRI's invest in rupee futures I want to propose a Currency Futures ...
- 111
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1
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375
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Transferring money from the US to India after students visa is over
I am an F-1 student in the US. I am going back to India when my studies get over in a month. I have around 25000 USD in my bank account. I need to carry that amount to India, but I don't have anyone ...
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726
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Best way to invest around 50k Indian rupees and save Tax
I am a 27 year old from India, My salary is 4,20,000 per annum.
I don't have any insurance or any other investment plan right now.
I want to invest 50,000 Indian rupees, such that I get a good ...
1
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2
answers
374
views
Interest Rate Arbitrage - Pay off loan
I am planning for interest rate arbitrage to pay off my education loan in India at 11.25% interest rate using a personal loan at 3.9% interest rate from an European country where I work drawing ...
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1
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4k
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Can i have NRE accounts without OCI card?
I was Indian Citizen and I have NRE accounts in India. I recently became US citizen but I don't have OCI card yet. So the period between acquiring US citizenship and getting OCI card is 3-4 months. Am ...
- 171
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Transfering money from NRE account in India to family member
I am a US citizen and I want to transfer some amount 10 lakhs+ to my brother from my NRE account in India to his account. My brother is going to purchase something for his business. He is going to ...
- 171
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How to bring NRO money from India to UK
I have several rupee insurance policies that are maturing soon, and I have NRE and NRO accounts in India.
I live permanently in the UK and looking at ways to bring the funds over. My Indian bank ...
user50316
3
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2
answers
2k
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What is a correspondent bank?
I want to transfer $500 to my son in the USA. I'm using the online Internet facilty of ICICI bank, Hyderabad through the "money2 world" option.
In spite of my filling all the details like the account ...
3
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1
answer
152
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How do resident foreign currency accounts in India work?
I live in India, and I'm considering opening a resident foreign currency account, to receive dollars from outside India.
Is the balance (in dollars, say) automatically converted to rupees when I try ...
- 672
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answer
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Do I need to pay taxes in India?
I am working on a two months of independent In-house corporate photographer with a US company. I came here on Business Visa and I should had to open local bank account because the company is only ...
- 113
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votes
1
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848
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Which is better for USD payment for Indians : Wire Transfer or Cheque?
I am about receive some reimbursement of ~1000 US dollars. I live in India, whose currency is INR. I have the option to receive the money in form or cheque or wire-transfer.
Which of the two mode of ...
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Converting Euro to Rupees in India
I saved 1000 Euros during my internship in France, and brought them back to India in cash. It has been a year since then, and I want to deposit it in my bank account now. I was told by the bank that I ...
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Do I have to pay tax on hand-money(USD) which I brought from US to india?
I am not getting answer of this very normal question on the internet. I was working in the US as salaried employee and as per day count I was NRI for rear 2013 and 2014, and I paid full tax on all ...
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636
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How can I send money to someone from India to Pakistan?
I've one friend in Pakistan who did freelance work on a website project. So, I have to pay him for it. But unable to find any gateway.
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Where should I exchange INR to USD, in India or US?
I am Indian, permanent resident of the US.
Years ago, I had loaned some money to my father in India and he now wants to pay it back to me. The amount is worth $300,000 and I am thinking of the best ...
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Are there any hedged international funds in India?
I live in India, and want to diversify into the foreign equity market, via a mutual fund offered in India. But I don't want to take on the currency risk. In some countries, funds are offered that ...
- 672
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315
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What fraction of one's portfolio is safe to invest in a single mutual fund?
Is there a limit on the fraction of one's portfolio that is safe to invest in a single mutual fund?
The risks I'm concerned about are the fund manager making bad decisions and the fund not generating ...
- 672
4
votes
2
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183
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Best way to do savings in India?
I have started to earn a year ago. All my funds are currently in banks.
Is there any better way save money than leaving it in a bank account?
- 141
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I want to exchange UK Pound for Indian Rupee [closed]
I have a friend in London, recently he has sent a parcel for me including some pound (England Currency ) in that parcel, now how can I exchange it into Indian Rupee ??
1
vote
1
answer
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HKD safe for business?
I having been charging my client in USD for last few months. Recently client suggested paying me in HKD. Is HKD a good option as compared to USD when receiving funds?
My Native Currency is INR.
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vote
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answer
888
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My salary from Dubai to India in INR ; taxable or not
I am working in dubai since 3rd may 2013 to till date and receiving my salary in INR in India in ICICI Saving account. I have not filled my ITR.
I wish to know :
Can I fill my ITR now and what is ...
3
votes
1
answer
827
views
Selling my earned dollars to someone in US for rupees in India
I am working in US as a resident alien. I have few dollars in my bank account in US. If I give some dollars to a friend in need in US and he deposits equivalent amount in Rupees in my Indian bank ...
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2
answers
346
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How to Receive US Dollars for my savings account
I'm Planning to open-up a small consulting firm in india. I need to know is there a way to open up an US bank’s account in my name in USA, without being physically present in US or visiting US?
I'...
2
votes
1
answer
4k
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Invest as dollars in India
I resides in India (currency:Rupees).I have my payment from a US based company in dollars.They sent me the amount via Paypal.Paypal converts the payment to rupees while transferring to my Indian bank ...
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2
answers
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Is it legal to have a Savings account in india while I am working in the US
I have been residing in the US since 2012. I have recently started working for an employer since 2014. I have three related questions. Due to lack of due diligence on my part, I missed couple of ...
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Investment Newbie - Options in India - For $10K - for 10 years
What are the investment options in India for a newbie like me. I would like to start with 500,000 INR. (5 lacs / roughly $10K). Its for a long term. I don't need this amount for 10 years.
Low to ...
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votes
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Tax implications on money transferred to NRO account
Here is the situation - my wife and I are based in UK. I have NRO/NRE account in India. My wife has remitted some money to my NRO account in India. Can the forum please help me with the following?
...
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Do banks give us interest even for the money that we only had briefly in our account?
My father has just deposited ₹95,000 in my savings bank account with Indian Bank that I have to pay as fees to my university.
I was thinking of paying the fees 1-2 days later, as I will get interest ...
user14689
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2
answers
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US tax for a resident NRI
I am a recent resident and filing for my taxes. However I have investments in India (stocks and real estate). I would like to know since I am paying taxes for those investments in India, would it be ...
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answer
3k
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Do I pay tax if I convert INR to CAD to use in Canada
If as a Canadian resident, I hold an NRE account with an Indian bank and i transfer money earned in CAD to this account. The I earn interest in rupees and want to transfer back to CAD.
The interest is ...
- 15.9k
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votes
2
answers
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Capitalize on a falling INR
Recently the INR has taken a beating. As an Indian retail investor, is there a way to capitalize on this? Assuming that the person is not in the export business. They are a salaried person earning ...
- 15.9k
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answer
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I need to pay for Domain Name in USD - How do I make payment in INR
I want to buy a domain name from eurodns website. How can I pay money to them when I have only Indian currency(INR). i.e how to convert my money to USD.
Thankyou in advance.
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