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Q: Hello: I am OCI (USA citizen) working in India. I am a software pro working for a USA company and working from India.(telecommute). My Indian tax status is now :Resident Indian. Was in India since last 4 years. I also do taxes in USA since my job is in USA.(W2). Last year, 2017, I sold stocks in my USA stock account and got some gains(long term gains) So it this stock sale income taxable in India? Gains were from Long term. Held stocks from mpre than 3 years. Any advise/help appreciated. Thanks

A: Income Tax laws in India specify that immovable property held for more than 36 months – or 3 years – before sale, fall under long-term capital gains. For stocks, shares and bonds, this period is...

Q: How can I bring a ps4 from Dubai to India without paying any custom tax?

A: You may not need to pay any custom duties and taxes if you will hand-carry the item. It may be hassles but is the best way to save.

Q: What is the maximum customs duty plus any other taxes that are applicable on a used car owned for more than a year, imported for personal use under transfer of residency to India.

A: NRIs who are returning to India after a stay abroad may avail the “transfer of residence” for permanent settlement. Under this, you are allowed to import one car or motorcycle (new or used)...

Q: Is Section 44ADA of (Indian) Income Tax Act 1961 as updated applicable to RNOR

Q: Is section 44ADA is applicable to RNOR for FY 2016-17

Q: Can an OCI Card holder who has settled down in India since over 5 years claim deductions under Section 80C and 80D while filing IT Returns? If yes, which deductions are they eligible for and upto what limits?