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Samkit Maniar |180 Answers |Ask -Follow

Tax Expert - Answered on Feb 10, 2024

CA Samkit Maniar has eight years of experience in income tax, mergers and acquisitions and estate planning.
He has graduated from Mumbai’s N M College of Commerce and Economics and has completed his CA from The Institute of Chartered Accountants of India."... more

Asked by Anonymous - Dec 07, 2023Hindi

Money

If i have invested in New York Stock exchange, being an Indian, working in India, what is my tax implication and regulatory liability

Ans: As an Indian person, you are subjected to taxation on worldwide income. Hence, in case you receive any dividend or you have sold any investments then you will be subjected to taxes in India.

You may also consider India US treaty and choose the favourable rate (ie rate as per Indian laws or rates specified in India US treaty whichever is lower).

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Question by Rajendra - Dec 16, 2022Hindi

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Few years back I was working in USA. I had invested in US Equity Market like Facebook, Amazon etc. there and presently my shares are still invested there. Now I want to sell those shares. What will be the tax implications for me in India as I have come back two years back?

Ans: I understand you are resident and ordinary resident for the Income Tax purpose. Accordingly, when you sell shares (US equity market), it will be taxable as Capital Gain (assuming trading in shares is not main source of income).

If shares are sold after holding it for more than 24 months it will be taxable at 20% (plus applicable surcharge and cess).

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Asked by Anonymous - Jan 20, 2024Hindi

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Vivek, I have invested in US stock market using platforms available in India. So far, only purchase and no sale. What kind of tax declaration do I need to make here in India? I do not plan any sales for the next 5 to 7 years, so how wpuld LTCG and STCG play out for me?

Ans: Hello,
Dividends will be taxed at flat 25%
Duration for LTCG is 24months and more and the LTCG tax rate is 20%

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Asked by Anonymous - Jan 20, 2024Hindi

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Mihir, I have invested in US stock market using platforms available in India. So far, only purchase and no sale. What kind of tax declaration do I need to make here in India? I do not plan any sales for the next 5 to 7 years, so how wpuld LTCG and STCG play out for me?

Ans: At the time of transfer, Indian Income tax provisions will be applicable. If period for holding is more than 24 months, it will be long term capital asset.

The short-term capital gains are taxed at the slab rate whereas long-term gains are taxed at the rate of 20% along with the indexation benefit.

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Question by BALDEV - Sep 20, 2024Hindi

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If I invest in indian company and received income in US Dollar as per IT Law what is the Tax liablity

Ans: Since it is income earned in India, from an Indian company, it would be taxable, even if received in US dollar.
Most welcome for any further clarifications. Thanks.

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Asked by Anonymous - Feb 23, 2025Hindi

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CaN you list the nit in order for selection to cse group. Is trichi not in top list

Ans: Hello dear.
It would be an injustice for the brand NIT to list them in descending order. Yet some people try to order. Here is the order of NIT for the CSE branch:
(1) NIT Tiruchirappalli (NIT Trichy) (2) NIT Karnataka, Surathkal (3) NIT Rourkela (4) NIT Warangal (5) NIT Calicut (6) NIT Jaipur (7) NIT Silchar (8) NIT Nagpur (9) NIT Durgapur (10) NIT Jalandhar

If you are satisfied with the reply, please follow me or ask again without hesitation.
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MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Feb 23, 2025

Asked by Anonymous - Feb 22, 2025Hindi

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Sir I got 97.148 %ile and I am from OBC NCL category can i get a decent branch in any tier 1 NITs

Ans: Hello dear.
With a score of 97.148 %tile and OBC-NCL category, chances are there to get admission to one of the NITs but low chances to get into tier 1 NITs.

If you are satisfied with the reply, please follow me or ask again without hesitation.
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MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Feb 23, 2025

Asked by Anonymous - Feb 22, 2025Hindi

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Sir I got 97.148 %ile and I am from OBC NCL category can i get a decent branch in any tier 1 NITs

Ans: Hello dear.
With a score of 97.148 %tile and OBC-NCL category, chances are there to get admission to one of the NITs but low chances to get into tier 1 NITs.

If you are satisfied with the reply, please follow me or ask again without hesitation.
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Asked by Anonymous - Feb 23, 2025Hindi

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Will my son get in Nit Surathkal after scoring 99.277 percentile in Jee mains 2025 session 1.

Ans: Hello
With a score of 99.277 chances are very bright to get admission to NITs. Your son may get admission to Surathkal NIT.

If you are satisfied with the reply, please follow me or ask again without hesitation.
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Question by Harshit - Feb 23, 2025Hindi

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My percentile is 81.63 in jee mains can I get admission in any nit or iiits ?

Ans: Hello Harshit
With a score of 81.63, getting admission to NIT would be challenging, yet chances are bright in IIITs.

If you are satisfied with the reply, please follow me or ask again without hesitation.
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Question by SOUHARDYO - Feb 23, 2025Hindi

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I get 98.98 percentile in jee mains...can I get cse in NIT?

Ans: Hello Souhardya
You did not mention the category. Yet assuming that you are from OC, chances of getting CSE or an equivalent branch in NIT/IIIT are bright.

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Asked by Anonymous - Feb 22, 2025Hindi

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My daughter get 89 percentile in JEE main 2025, she will get nit

Ans: Congratulations to your daughter on securing an 89 percentile in JEE Main 2025.
Estimated Rank: An 89 percentile in JEE Main 2025 corresponds to an approximate All India Rank (AIR) between 1,50,000 to 1,65,000. NITs with Potential Openings: Institutes such as NIT Agartala, NIT Meghalaya, NIT Raipur, NIT Jalandhar, and NIT Durgapur have, in previous years, admitted students with ranks corresponding to an 80-90 percentile range. See previous year cut offs

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Question by Umamahesh - Feb 22, 2025Hindi

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Sir, My Niece got 97.5 in Jee mains 2025, can she get CSE in which NIT , pls suggest sir.

Ans: Congratulations to your niece on securing a 97.5 percentile in JEE Main 2025.
You may get NIT Jalandhar, NIT Agartala, NIT Goa, NIT Hamirpur, NIT Meghalaya, NIT Patna etc. See previous year cut off

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Tech Careers and Skill Development Expert - Answered on Feb 23, 2025

Question by Anuj - Feb 21, 2025Hindi

Career

Sir I got 96 percentile in jee mains 2025 ..I belong to jharkhand Can I get nit jamshedpur civil engineering.... Also I am a obc ncl candidate...

Ans: Congratulations on securing a 96 percentile in JEE Main 2025.
Percentile to Rank Conversion: A 96 percentile in JEE Main typically corresponds to an All India Rank (AIR) between approximately 40,000 to 50,000. For OBC-NCL candidates, this would translate to a category rank ranging from 10,000 to 12,000.
Based on the 2024 admission data, the closing ranks for the Civil Engineering program at NIT Jamshedpur under the OBC-NCL category with Home State quota were as follows:

Round 1 Closing Rank: 15,169
Last Round Closing Rank: 79,265
So, you should get it

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Tech Careers and Skill Development Expert - Answered on Feb 23, 2025

Asked by Anonymous - Feb 21, 2025Hindi

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I don't want to do engineering but my parents are forcing me to do so what should I do?

Ans: Do not do it. Personal passion and interest are required for success in long run.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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