New answers tagged

0

You need to enter the stipend as income from other sources. If this is the only income you should get a refund.


0

There are no tax implications in India or US. As the amount is significant have a gift deed created for records.


0

This would depend on how it is shown in the form 16. The items you have listed are taxable unless the company pays these as expenses. Sodexo upto 18,000 can be given by a company. It is not included in the form 16, under income from salary


2

One can change the fund management company once a year. The fund houses and investment are selected with utmost care by Govt. The expense ratio are regulated. So the risk is minimal. The funds are passively managed and investment is in Index funds. On long term basis there is minimal risk. Having one fund house instead of 3 does not increase the risk.


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It is a combination product where the funds in savings account are linked to Fixed deposit. As the money is in fixed deposit, the interest rates are better. If the funds in savings account go below rs 10,000 the fixed deposits are broken automatically and credited to savings account.


0

The revised income tax rules, few years ago... Loss in house can only be adjusted against gain in house property or other capital gains. It can't be adjusted against salary or interest income


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You can only claim one. If you are I, up to 50,000 on premium. If you are not insured, expenses up to 50,000 See the calculator at income tax website. https://www.incometaxindia.gov.in/Pages/tools/deduction-under-section-80d.aspx


1

Income tax is payable by B. Unless Income tax authority has reason to believe A transferred for tax evasion, they are not bothered. This does not mean other agencies like ED or Police will be not bothered, if they have reason to believe the intent was for unlawful gains it would be investigated


3

Debt funds are exposed to fixed income risks, which overlap with but are not the same as equity risks. Equity, for example, falls during every recession. Debt may or may not. The main risks you face in fixed income assets are: Inflation risk. If inflation ends up being higher than expected, the price of your fixed-income assets will likely fall because the ...


0

Only your contribution is counted towards 80CCD. Both scene 1 and 2 are possible. You can choose based on convenience


0

Advance taxes paid takes a while to reflect. ITR can be submitted by giving the details. There is absolutely no issues. I have been doing this for a decade and there is no enquiry


0

Rental income is taxable in India. I suggest you open an NRO account and have the rent deposited there. Transfer into NRE are tax free in India.


2

No you can't claim this benefit. This will be the money paid after taxes.


0

If i availed the new home loan on ready possession flat and the interest paid upto 1.50 lacs, can i get the tax benefit ? Yes you can designate this as first house and get interest benefits of Rs 1.5 lacs


1

Is there any tax relaxation for Indians in Germany? I've never heard of such a tax relaxation that you describe in the comments for Germany. Moreover, I'm not aware of any form of the income tax declaration asking questions that would treat German income of a foreign worker with tax residence in Germany different from German income of German citizens with ...


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