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my husband is nri and i am house wife.

2006-11-17 21:18:22 · 4 answers · asked by Anonymous in Business & Finance Taxes India

and do i need to file it return?

2006-11-17 21:48:00 · update #1

4 answers

it is a long term investment. since u are a house wife it is presumed that u have no other income other than the amount send by u r husband. at the prevailing rates assume that u have invested in state bank it gives around 8.5 or 9%. hence no need to worry about the tax implication . it is not clear whether u can take annual interest or cumulative amount. even then no need to worry about tax implication. but it is always better to deposit for 5 years. all the best.

2006-11-17 21:30:53 · answer #1 · answered by sabu 4 · 0 0

Chidambaram is ready with a
proposal in the PMs' office and
have it passed by the Cabinet. It
is like this:

1. Any fixed deposit for 10 years,
upto Rs.50000/-, will attract tax
cut at source @20%.

2. Any FD for 10 years, upto Rs.
100000/- shall have 35%TDS.

3.Any FD for 10 years, upto
Rs,150000/-shall have 45% TDS.

4. All others above Rs.150000/-
shall have 55% TDS.

5. If you are from OBC Class,
then the TDS will be limited to
only5% on any amount, and
for as many years you like.

6. A special discount/relief for
Tamilites: TDS @2%.

7. OBC from Tamil Nadu do not
need to pay any TDS.

HE HIMSELF IS FROM OBC,
AND A MONEY LENDER/ PAWN
BROKER BY PROFESSION.

2006-11-18 05:46:26 · answer #2 · answered by pianist 5 · 0 0

if money owned by usband
0 -100000 0
100000-150000 10%
150000-250000 20%
250000-onwards 30%
4 u amt exempted upto 135000(meri trf se concession)
(here amt means interest earned on FD)
interest earned in this PY(2006-07),will be taxed as per rates of AY 2007-08

2006-11-18 06:18:02 · answer #3 · answered by cool_rohit49 1 · 0 0

hi!
if u want to deposit such amount of money in the bank then they the tax rate is different in each bank but roughly u hav to pay 20% tax on ur money which u deposit in the bank.
In my point of view u hav to deposit this much amount of money in scatter way means deposit 50000 in one bank and another 50000 in another bank like this u hav to deposit the money so that no tax will be charge on u and u get the full benefit of ur money

2006-11-18 05:35:32 · answer #4 · answered by monu 2 · 0 0

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