Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [india]

For questions that relate to the laws, practices, and products of India

For questions that relate to the laws, practices, and products of India.

1424 questions
50
votes
9 answers

How do credit card companies make profit?

How do credit card companies make profit by giving us credit for 40-50 days (India). I purchase something on my credit card and I pay it to the credit card company after some days. How are they going to make profit with this where I'm not paying any…
JayaprakashReddy
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46
votes
12 answers

Is it legal if I'm managing my family's entire wealth?

My family (father, mother, and brother) have allowed me to invest their money in the stock market and other types of investments (real estate, bonds and mutual funds). Is it legally okay to do all the investments under my name? Which means that I…
Anoneemus
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33
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12 answers

How can I break the cycle of taking on more debt to pay the rates for debt I already have?

I'm 30, married, and have a 1.5-year-old daughter. My monthly on-hand income is 71,000 ₹ (INR). These are my monthly expenses: Home loan: 18,428 (Loan amount: 18,50,000. Number of EMI pending: 150. Tenor: 161 months, ROI: 7.4%) Home topup loan:…
private
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22
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1 answer

What is fuel surcharge in India?

In Bangalore (INDIA), when you purchase fuel with cash, you never have to pay for a 'fuel surcharge'. When you pay for it using your credit or debit card, a fuel surcharge is added on later? What and why do they do this?
letterhead
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21
votes
4 answers

Undated cheque was given by client but client asks me continually not to deposit it

I received a cheque 3 months ago, which my client gave me to start a project and there's no date on the cheque. My client told me to ask him before depositing the cheque. The cheque was advance payment for the work. So I didn't start or complete…
karan ugale
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18
votes
10 answers

What is the worst thing that can happen with my investment in mutual funds?

I have downloaded two apps namely Groww and ET Money to see the various Mutual Funds available in the market. The disclaimer reads that Mutual Funds are subject to market risks. I am curious to know what is the worst thing that can happen to my…
Severus Snape
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18
votes
4 answers

Investing in S&P500 Index Fund from India

I am an Indian Citizen residing in India. Can I invest in an S&P500 Index fund while residing in India?
Sucheta Saha
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16
votes
3 answers

Is there a way to know the number of a lost debit card?

I am stuck in the situation where I want to know the card number of my lost debit card (lost in 2013). I have an account in the Bank of India. I checked all my entries in bank pass-books but there is no transaction where the debit card number or its…
codenext
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16
votes
4 answers

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 on the 95 thousand for these days. I know that it…
user14689
16
votes
4 answers

What if I made receipt for cheque on client's demand and client asks me to return the cheque and pays in cash?

My client gave me a cheque where I gave him the receipt for it's acknowledgement. Now my client tells me to return the cheque and is willing to pay with cash. How to edit the receipt or is there any other method?
karan ugale
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16
votes
3 answers

India: is making money by buying and selling foreign currency legal?

Can a person buy a foreign currency using the currency of their own country, and then sell it when their currency's value goes down? Say, I exchanged 44,820 INR for 1,000 USD in 2010, when 44.82 INR = 1 USD. Now that the value of the INR has fallen,…
Aravind Suresh Thakidayil
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14
votes
2 answers

Stock Split seems not to have changed the Share Price. Why?

I was recently looking at the financial charts of TCS(Tata Consultancy Services) and noticed that the TCS offered 1:1 bonus on 31st May, 2018. I noticed that the price of the share stock did not change. So i went on some other sites to verify and…
Mohit
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14
votes
2 answers

Indian citizen working from India as freelancer for U.S.-based company. How to report the income & pay tax in India?

I am an Indian citizen and I work from India as a freelancer for an U.S.-based IT company. I am getting monthly payments directly into my Indian bank account. My colleagues' monthly payment come to my account first, and I pay them later. I have not…
Bhaskar
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13
votes
3 answers

Interest rates on fixed deposits in India: Why would rates for 1 year deposits be higher than for 2 years?

Currently, in India, banks are offering very high rates on Fixed Deposits (FD). What I am curious about is that the rate is often higher for a 1 yr lock in period than a 2 yr lock in period. I would think, the longer you park your money with the…
Victor123
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13
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2 answers

Will I have to pay taxes in India when I transfer money from a US bank to an Indian savings account?

I am currently in US, and would like to transfer some amount from my US Bank account to a savings account based in India on a monthly basis through a third party like Xoom or Transfast. If I'm going to transfer this amount, will it be taxable in…
user10056
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