Indians love Gold and research says the highest amount of gold sales happen in India.
India is filled with different festivals and many traditions...
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5 and a half years of watching people of different ages, in different situations and of different lifestyles; I had to seek inspiration from Mr....
A financial charge that is imposed on an individual by the state or the function equivalent of a state is called Tax. The government imposes...
What is an NRI account?
An individual having an account in a bank located in India but is not a resident of India is said to have an NRI account....
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Best transfer rates to send money to India
| Amount | Currency |
* indicative rates as on 10:30 pm 21 May 2013 IST
| Service | rate* | amount |
| click2remit.com | 54.53 | 54530 |
| remit2india.com | 54.39 | 54335** |
**(Final Payout - Additional fees+ taxes) may be charged. Final payout calculated based on indicative rates displayed on website, may change depending on when the transaction is processed
Best deal for transfering 1000 USD to India
54530 INR for 1000 USD via click2remit
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- Times Of India - 17th-May-2013- Silicon India - 17th-May-2013- The Economic Times - 17th-May-2013
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- Times Of India - 16th-May-2013- Business Line - 16th-May-2013- Times Of India - 16th-May-2013
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Ask the experts
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Amar co-founded Golden Abodes with Gaurav in 2010. He has been instrumental in rolling out successful online and offline marketing campaigns for leading real estate brands in the country.
Ameet Patel is a Chartered Accountant and a tax partner at Sudit K Parekh & Co., Chartered Accountants. Ameet is a rank holder and has secured ranks at the Inter and Final CA examinations at the all India level.
Ankit Tulsyan is a Chartered Accountant and he specializes in auditing, assurance and accounting services and also advises on Income Tax, Service Tax and VAT matters.
Mr. Siddhartha Shah is a practising lawyer and has founded M/s Siddhartha Shah & Associates.
- Latest Q & A
Question
Dear sir I am an nri I have a house that I want to sell and purchase a flat with the proceeding .. I owned the land over 20 years but built the house about 7 years ago .with the funds from overseas.now my question is what are my tax implication when I do sell the house ..and what rate will I be taxed ?
Answer
You will be liable to long term capital gain tax at the rate of 20%. You can claim exemption out of the ... read more
Question
I am a foreign citizen living in India with an OCI card. Are my assets abroad taxable under the current Wealth Tax rules? These assets are financial, i.e., bank accounts and brokerage accounts.
Answer
As per the Wealth Tax Act, assets and debts located outside India shall not be included in the net wealth ... read more
Question
Hi Ameet, I will be moving from India to Singapore shortly. What all accounts do I need to close among SB, FD, RD, PPF, DMAT. What do I need to open? NRE alone or do I also need a NRO? Can I transfer money from my NRE account to my parents\\\' SB account? Rgds, Harish
Answer
Existing SB & TD will be converted into NROSB & NRO TD while resident Demat to be closed and stock to ... read more
Question
Hello Ameet, I live in Australia and want to invest about $5000..about Rs.2.50,500 in India for long term. What do you recommend? If its NRE account,which bank provides the best deal currently. Thanks heaps in advance, Regards, Sailesh
Answer
What is the tenure and returns expected, based on that only one can recommend pertaining to investments. ... read more
Question
Dear Ankit, I am a US citizen with PIO card and a PAN card. In January 2012 I sold my ancestral property, and immediately reinvested the gains in a residential flat under construction. What\\\'s my tax filing obligation? If this is the only transaction I have to show on my tax return what filing fee can I expect to pay to a CA? Do I have to show this transaction in US tax return?
Answer
The sale of property will be liable to Long Term Capital Gain tax. You can claim deduction of reinvestment. ... read more
Question
Dear Sir, I would like to know what is the differents between PIO and OCI cards. Please let me know .Thank you
Answer
A person whose Place of Birth is India n is a citizen of another country he/she is called PIO. ... read more
Question
can one transfer funds from a resident account to an NRE account?
Answer
No.
Question
are returns on FD from funds through NRE account taxable in india
Answer
NRE TD is free from Tax
Question
Dear Ankit. I know from your answers to other questions that the money in NRE account is not taxable but was wondering whether I have to fill the tax return form and declare that all my money has been earned abroad?
Answer
There is no such requirement or obligation to file the tax return of income earned abroad in India. The ... read more
Question
I and my wife are NRIs in UK. If I transfer money to my wife\\\'s account in UK, and she then transfers that money into her NRO account in India, will the income earned on this NRO account be clubbed with my income in India?
Answer
In computing the total income of an individual, all such income as arises directly or indirectly to the ... read more
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