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One can enjoy the status of NRI being in India but stay in India doesn't exceed 182 days. Based on the earlier answers received also understand that one should meet all his expenses in India out of the salary being credited to his NRE a/c. I would like to know for how many years such facilities are available to avoid tax on overseas salary.

2006-11-30 03:27:43 · 1 answers · asked by Chandrasekaran G 1

do I get tax benifit on EMI I pay back ???
do I get tax benifit on interest part of EMI ???
Is there any limit to this benifit ???

When can I claim the Simple Interest part of the Edu Loan for IT benifit ???

2006-11-29 10:27:23 · 2 answers · asked by suraj 1

We the part service class (Salaried employees) in India are sincerely paying huge Income taxe on hard earned money.Looking at high cost of living and falling interest rates the present personal taxation policy is unjustifiable.Let every one of us send represntation to Finance Minister of India to consider to increase the tax slab upto Rs.5 lacs PA without any Income tax imposition.Let GOI collect more money from business tycoons like Ambanis,TATAS,Modies , etc.Let GOI plug the holes to prevent the drain of Taxes in other avenues.We need united action to make this to happen for benefit of all salaried class community in India.Let us act fast and make it success.

2006-11-29 05:51:24 · 1 answers · asked by Anonymous

2006-11-28 23:44:01 · 8 answers · asked by pranesh r 2

2006-11-27 18:46:22 · 1 answers · asked by sohail k 1

2006-11-26 20:30:51 · 5 answers · asked by Bala 2

What is the EXACT definition of LTCG with respect to Indian stocks traded on the stock exchanges ?

Is it sell after 1 year or 1 year + 1 day or what ? I tried google and believe it or not, not one article came up with a simple explanation for the definition of LTCG with respect to share transaction on a valid stock exchange.


In my case, I have bonus shares issued by Mphasis BFL on 26/11/2005 for shares originally purchased on say 7/1/2004. If I were to SELL my bonus shares on 27/11/2006 (i.e., on Monday/tomorrow), will I be eligible for Long term capital gains tax (which equals ZERO) or should I have to wait until 28/11/2006 or what ?

For tax purposes, what is the date of acquisition for the bonus shares ? Is it the date of bonus shares (which in my case would then be 26/11/2005) or the date of original purchases (in my case, it would have been 7/1/2004)

2006-11-26 00:50:58 · 7 answers · asked by Anonymous

2006-11-25 04:36:26 · 8 answers · asked by prakash 1

2006-11-23 22:48:05 · 4 answers · asked by richel a 1

can you explain me about my tax liability for the financial year 2006- 2007

2006-11-23 16:10:21 · 9 answers · asked by kurian7in 1

hi,
can i get FORM-16 from a company where i served 6 months ?
the company cuts tax every month from the monthly salary slip.

can i get the FORM-16 for 6 months ?

2006-11-22 19:22:58 · 5 answers · asked by Anonymous

I am U.S. Citizen; residing in USA my company is also located in USA and they are willing to deposit my pay check (commission) in Indian bank in Indian Rupees for work performed here in USA. They told me as per Indian tax laws there’s no income tax for foreign income and that my pay will be tax free.

Would like to know do I need PAN number, do I need to file income tax return every year or quarterly in India? Any help is appericate.

2006-11-22 05:09:29 · 5 answers · asked by Anonymous

2006-11-22 04:21:47 · 5 answers · asked by a m 1

2006-11-21 18:50:54 · 5 answers · asked by Parveen Dhiman 1

Just a stupid question.. but i was wondering when you have a child how much do you get back on your tax return?

2006-11-21 04:24:49 · 3 answers · asked by kate 2

My grandsons are American citizen by birth and I want to open saving bank a/c in their names so that I can give them gift.

2006-11-20 21:20:05 · 6 answers · asked by gaurav r 2

AS A STUDENT I WANT TO KNOW -
HOW TO SAVE INCOME TAX & HOW MANY FIELDS OR HEADS IS CONSIDERED BY INCOME TAX ACT FOR TAX REBATE?

SUPPOSE MR.X'S MONTHLY SALARY IS RS.65000/- PM AND HE ALSO EARN RS.20-25 THOUSAND P.M. FROM DIFFERENT SOURCE-LIKELY SHARE,COMMODITY MARKET ETC. & HE WANTS TO SAVE INCOME TAX AS HOW MUCH AS POSSIBLE. HOW WE CAN COMPUTE ITS TAX LIABILITY.

PL. ANS. WITH FULL DETAILS OF ABOVE WITH HEADS ETC.

2006-11-19 16:06:09 · 3 answers · asked by My_Tension 1

whether an auditor is permitted to conduct TAX AUDIT of His / Her IN LAWS file ? Is ther ANY KIND OF LEGAL BAR?
As per council decision--" where the partner or Relative of a member has substanial interst "-- the Auditor should prefer to desist from undertaking such audit assignments or if the auditor feels that his independence will not be effected he may disclose such interset in his report.
However here relative includes husband, wife, brother , sister and any lineal ascenndant or descendant of the member but no where mentioned about IN LAWS.
So we think ther is no bar for a member to accept TAX AUDIT of his/Her IN LAWS Accounts .
PLEASE GUIDE WHETHER OUR ABOVE VIEW IS CORRECT OR NOT.
WHETHER AN AUDITOR IS PERMITTED TO CONDUCT TAX AUDIT OF HIS/HER INLAWS ACCOUNTS ????
WHAT IS THE PROVISION FOR INTERNAL AUIT ( non corporat ) OF IN LAWS A/CS???

2006-11-18 00:52:23 · 3 answers · asked by SOUMYA JYOTI m 2

Just like we get information on financials of companies , is there a simple financial planner to make an analysis of my own financial affairs such as taxes, EMI, loan repayment, expenses, insurance premium etc.

2006-11-17 23:04:57 · 2 answers · asked by pvnathan1 1

my husband is nri and i am house wife.

2006-11-17 21:18:22 · 4 answers · asked by Anonymous

if yes then how much tax?

2006-11-17 20:56:12 · 5 answers · asked by Anonymous

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