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What will be the take home for below?
Hello Fishes,
Noob query. So there is an LTA Reimbursement component in the FAP allocation. I've mistakenly set it to the max amount. Now in June, 2022 salary I only received half of the monthly expected amount. Any idea when will I get back the money? And why did this happen. I'm sorry I don't have much idea on these
HSBC India
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Anyone from R&R Partners here?
“I’ve been great! No complaints” 😂
What's your biggest struggle as a junior lawyer?
And we officially enters Bull market!
You can do transfer back to US at any time, if you have NRE. If you have NRO, then money can be transferred to NRE if a chartered accountant gives a certificate that he has looked at all your accounts and he is satisfied that you are compliant (I think 15B form or such).
Find someone who needs to send money to India. And have accounts settled locally.
This is literally hawala MO ..dont do this.
You can legally repatriate money via initiating transfers and if the amount is large you may have to pay some tax. Any other method used for repatriation can be considered illegal and can expose you to scrutiny by Indian tax department.
Thanks. So the tax should be paid in India?
Are you sure you want to move money now...given it’s about 71INR to 1$?
Haha yeah.. I think so too
If you held money in NRE account, it should be a simple transfer but bearing currency conversion. Assuming you have already paid taxes in US for the interest earned for the period held if applicable.