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One kid or two?

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Situation : Two income family with a 4 year old boy, wondering whether to have a second kid.

Dilemma : If we do decide to have a second child, age difference between the two kids may be around 5+ years. Even after reading numerous posts (including some from this very forum), I am not able to make up my mind on whether the 5+ year difference is significant. Also, I am an *extremely* career oriented person, who has been doing a not-so-bad job juggling work and home. I am not sure how the equation will change with a second child.

The first one goes to a private school now. If we have the second child, private school will no longer be an option. I also worry about what will happen if I am not able to cope, and quit my job. At that point, I am worried how a single income family in BAY area, will cope with two kids, and a mortgage! My husband and I are both in good positions, but we are only individual contributors with no desire to get into management, although both of us have the necessary skill-set for the same, and have had related opportunities come up every now and then, which we kept turning down. I must add here, that my husband has always been a great support for me. He is a very hands-on dad, and we have been able to pull it off pretty well so far. Not sure how much of this will change with a second kid. As far as R2Iing, we don't have any short term plans.

I am looking for inputs from people who were in similar situations in the past. I know nobody can answer the question for me, but I still think, there is an opportunity for me to learn from others' experience. TIA!

Ever regretting buying a single family home?

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After buying a single family home, have you ever longed going back to a community setting, because your very active social child missed being amidst people? :-)

Dilemma: Gold Jewelry

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Did anybody face any problem carrying ALL the gold jewelry while r2i. We don't have any receipts with us. Is their any limit on how much you can carry under TR.


Sent from my iPhone using Tapatalk

Looking for Biotech/Biopharm jobs in Bengaluru

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Hello,

I am inquiring in finding biotech/pharma jobs in Bengaluru, non-PhD. Currently, I work in US MNC biotech company with strong biology background having Master of Science degree from a reputed USA university. I have computer and lab research skills relating to scientific research. Please reply if any companies in Bengaluru are looking for non-PhD candidates. I am open to Molecular Biology, nutrition, and many other fields of research. I have 10 years of career experience. Please advise how to find jobs and the right companies in Bengaluru for my background as I am just starting my search to R2I and need advice from this forum. Thanks.

Share Container: Sharing container from Dallas to Chennai around August timeframe

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Hello,

I have confirmed a 20" container for shipping some of my stuff to Chennai port around August timeframe. I have a few boxes and 2 TVs that i am taking. I am not taking back any other electronics. Please email me if anyone is interested in sharing half of the container.

I will be clearing customs in Chennai port and shipping the goods to Hyderabad through truck. If anyone is interested in getting stuff to Hyderabad, this will work too.

Thanks,
Mohan

Opinion: A Guide of Employment

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Have you completed your degree ?
Do you have a job ?
Which branch of engineering you opted for ?
Do you know how to build a software ?
Can you speak fluent English ?

These all are questions, that one has to face when they struggle for a job after completing their graduation.
In a country where unemployment is a can of worms, almost 80% of engineering graduates are unemployable, getting a job inspite of having a degree has become an uphill battle.


So what is to be done ? My degrees don't have any value ? Who is to be blamed ?

These questions will keep popping up in our minds, until we find a solution to it; and the only possible solution is to transform ourselves from a novice to an intelligent novice who has tolerance for ambiguity and can face the Grey, this is what makes one stand out of the box.


The mantra for success is not rocket science, all of us know where we fail in a recruitment process: either we lack in critical thinking ability (Aptitude tests) or we are not very technically sound (Technical rounds) or we lack the ability to create a pull which can impress the interviewers (Communication and interpersonal skills).
So in a nutshell one needs to be equally good in 1) Aptitude and reasoning 2) Technical knowledge mainly JAVA & C programming and 3) Verbal and written proficiency in English.


Now that we know what is the disease, the second and most important thing is to find a specialist who can cure the disease. Finding a hospital is not a big deal in todays competitive world, but,

Does all the hospitals have the right facility along with good doctors and the right price ? Do we need to run to different hospitals for getting multiple problems solved ?

Not all roads lead to Rome, so we need to identify the right multi-specialty hospital which can address all our concerns. Coaching institutes now a days only focus on making revenue, all they do is market themselves fantastically, engage multiple stake holders and attract the distracted minds ( which is US !!). We know where we lack and hence we need someone to take personalised care of our problems, providing objective feedback and guiding us in deep practicing so that we are capable of breaking the boundary. So dodge the bullet and stay away from this vicious cycle because this is just the tip of the iceberg.


Choosing the right hospital is not very easy now a days when more than a thousand such coaching institute operate in a city.
Following criteria should be kept in mind while searching for a training institute :


1)Focus on right set of Content(Technical knowledge ) and core skills(Communication ,Interpersonal skills , Aptitude etc.)
2)Focus on Blended learning (blending all content and core skills effectively ) to enhance communication ability and helps in impression management.
3)Focus on Pull based learning , where one is made to pull the knowledge from the facilitator and surrounding instead of spoon feeding the students and rote learning.
4)Focus on Deep Practicing , where students are made to work on the edge of their abilities by learning, practicing and committing/rectifying errors more and more so that the boundries are effectively broken.
5)Focus on Hygiene, by hygiene I mean the learning environment. For example, if students are asked to communicate using mails or if students are asked to give professional presentations on topics time to time then it generates a positive vibe for learning about the corporate world.


So one needs to make some wise choices to make a perfect career.


One such skilling insitute which I would strongly recommend is iPRIMED Education Solutions (www.iprimed.com), whose skilling methodology exactly matches all the above mentioned criteria. They are a NASSCOM member and NSDC partner and working effectively with CII, BITES and State government to address the problems of skill enhancement,employability and inclusive growth.
Dont just read about them. Visit them, question them and understand them,
because it is our career, it is our investment and we need to make calculated decisions. So blaze the trail, kick the can down the road and take the road not taken, because if you are not different,why anybody would hire you.

Goodluck !

First generation immigrants and confusion

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Folks who migrated from India to US for study / work purposes and settled here and had kids who are US born.
If you decided to settle in US, good for you and your kids. No confusion or dilemma
If not, then you return to India while kids are young and bring them up in India, and send them to US for higher studies or have them do higher studies in India.
But if you get stuck in US and could not return (though you wanted to r2i), then though you wanted to return to India, the situation is either you return to India after retirement or just settle in US since your kids are settled in US.

Assume you want to return to India after retirement, then I see this situation
- while you were young age working, we left parents in India and came to USA (to study/work in US)
- while you are in old age, we leave kids in US and return to India (to retire)
If find this somewhat hard to digest, just posting my thoughts aloud here.

comments, discussions can start.

Zakir Naik - Promoted terrorism or not ?

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We have had Baba Ramdev threads go on for a while. IMO Baba Ramdev atleast promoted Yoga , Ayurveda and Pranayama which most of agree has some benefits. What do you think of the tele-evangelist Zakir Naik who has a MBBS degree and got recently dragged in the Bangladesh terrorism ?

Post away folks :embeer:

Indian baby names

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I need list of babies names of India. Please suggest some.

Assault Charges Dropped for AL Cop Who Partially Paralyzed Indian Grandfather

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http://www.nbcnews.com/news/asian-am...father-n573806


I really feel bad for the family and the grand-father who was assaulted by the cop.
Although cops have a very difficult and dangerous job, too often they get away with a slap on the wrist for wrong-doings.
In this case the cop had no justification for assaulting a frail/older person for not complying when clearly they understood that he did not know English.
In spite having the video evidence they let him go. I wonder if they would have treated a non English speaking white person similarly.
Truly disappointed with this verdict and hope they win the civil case.

Buying flat in Delhi

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Hello Rajesh/all,

I want to buy a (ready/almost ready to move) flat in Delhi/NCR area. Seeing the delays happening on projects, I want to buy something that's ready to move.

The plan is to rent it out for the immediate term. I am a USC/OCI, and I believe that rental income would be reportable to US, correct?

My question is - does it make sense to buy in the name of my dad, who is retired and lives in india. He has limited income from FDs etc., so is in a lower tax bracket. So the rental income won't bump his tax bracket much. Also, I don't want to deal with the additional tax issues so wanted to have him take care of it.

Is there a way for him to to do this, taking money from me? Would that money be considered a gift? I don't know if this is appropriate or not.

Any help appreciated
thanks

NY Accident: Indian family needs help through crowdsourcing

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Friends,

Just came across this horrible news in TOI where an Indian, Chandan Gavai, was involved in an accident during the July 4 weekend. He along with his parents, who were visiting US, died on the spot. His wife is in coma and their 11 month old child is seriously injured. Chandan's brothers have reached the US but are unable to cope up with the high costs for funeral and medical treatment. One of Chandan's friend is seeking help on a crowdfunding website. I thought I will post the links.

The Indian consulate and

News
NBC NY - http://www.nbcnewyork.com/news/local...385512291.html
PIX 11 - http://pix11.com/2016/07/05/police-i...n-long-island/
NDTV - http://www.ndtv.com/indians-abroad/i...-crash-1432080

Crowd Funding Site
https://www.ketto.org/nyaccident

Crowd Funding Site for the boy's future
https://www.gofundme.com/2czk3bra

Admins: I hope it is ok to post this. If not , then please remove. Intention is not to solicit but help in any ways.

R2I Dilemma: R2I Planning - Deciding which citizenship to keep

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I have been a silent but everyday reader of this forum for the last 3-4 years. So many helpful topics are discussed here. My sincere thanks to all those who take time to share their experiences/perspectives and help fellow R2I'ers.

We are planning to return to India next year from the U.S. Currently both I and wife are Green card holders and will be eligible to apply for U.S. citizenship by naturalization next month. Our child is a U.S. citizen by birth. Since we intend to return to India and [hopefully] live there for at least 10 more years, I was wondering if it would be any value to consider any other options with regards to U.S. citizenship, from the financial / taxation point of view.

I am the primary bread earner of the family and thinking of acquiring the U.S. citizenship because it will give me flexibility to work and/or travel almost anywhere in the world. I am not in IT, so I am not expecting a big salary package in India. If the finances do not work out in India for us to maintain comfortable lifestyle, then I want to be able to explore job opportunities in the nearby regions like SE Asia or Middle East. I have heard that a US passport not only makes one more employable in these regions but also attracts better salaries. I don't know how much of it is true. For my wife, we are thinking of retaining her green card for the first one or two years. Once we are all settled and happy in India, we will abandon her green card so that her status becomes Resident Indian Citizen. My wife is not only fully on-board with this idea, but she is the one who suggested it.

My questions to you, forum members are – 1) Is there any value in exploring the option I described above? I am looking for financial and taxation side of the picture in this scenario but please discuss any other aspects also. 2) Do you know anyone who has done this? 3) Are there any pitfalls that I am missing? 4) How will this strategy affect our kid's college education in India/USA in future?

Thanks in advance for your kind help.

Schedule FA and Capital Gains computation

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Hi All,

As per my understanding going through the forums (and rule 115), Capital Gains for US stock bought as NRI and sold during ROR can be computed as below:

Capital gains will be computed in USD after applying indexation and then gain/loss will be converted to INR as per the TT buying rate of the last day of sale date's previous month.


Example: 100 shares bought at USD 20 on June 01, 2005. If it is sold on June 1, 2016 at USD 40. It is long term and indexation can be applied.

CG in USD after indexation is: 100 * 40 - (100 * 1125/497 * 20) = - 527 USD. It is a Capital Loss of 35425 INR (527 * 67.20) using exchange rate of 67.20
Now, when reporting the above stock in Schedule FA, what should be the cost of acquisition? I could not find a clear answer as per IT rules.

Should we use the TT buying rate of May 31, 2005 - but there was no currency conversion event in 2005. Money was earned in USD and stock was bought in USD.

If we use TT buying rate of May 31, 2005, then wouldn't IT consider that as the purchase price for future Capital Gain computation. If they do, for the above example

Cost Base reported in Schedule FA using TT exchange rate of buying date : 20 * 100 * 43.72 = 87440

Sale Price of 100 share in INR : 40 * 100 * 67.20 = 268800 (using TT buying rate on May 31, 2016)
After indexation, capital gains = 268800 - (1125/497 * 87440) = 70872. It is a Capital Gain of 70872 INR using exchange rate of 67.20.



Since the stock was not sold as of March 31st, 2016, can we use the exchange rate of 31 March 2016 to report acquisition price in Schedule FA? I could not find a supporting tax rule though.

Which is the correct, legal approach for CG computation and reporting of acquisition price in Schedule FA?

Thanks in advance
Regards
Sri

availability of wrinkle free cotton clothing for men's pants

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Folks, every time I make a trip to India, I buy some ready made pants which never fit me very well (even after altering length) - i have also stitched pants but the garments are never as good as the good stuff you buy in ready made - after first wash, they look like crap. When i ask in these ready made stores they swear I could never buy such material for stitching. Is this really true? Aren't there places that sell cotton clothing that is as good as found in these wrinkle free cotton ready made pants? where can i find these in India (I highly doubt if these would be available here in USA)? Thanks

Dilemma: R2I and First time resident status in India filing ITR 2 - 401K and bank balance

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Guys,

I have come across this website recently when researching my tax dilemma (How I wish I found this during my R2I) and find it immensely helpful.

I wanted to seek inputs on 3 questions that I have regarding filing my return with respect to Schedule FA Disclosure of ITR2 for AY 2016-17. I would appreciate if Mr. Rajesh or any member with experience can help with the following

Case Background
Returned to India around mid-Feb 2015 . Filed last year (FY2015) as Non-Resident in India
First time filing as Resident Indian post R2I - 2016 FY/ AY 2016-17 - ITR2
Not reporting schedule TR as I have paid no tax in US for the year and am not claiming any under DTAA
Major reporting For me is Schedule FA

FIRST MAJOR QUESTION - All foreign assets (I only have Bank balances, 401K and some recievables no immovable property or movable property) Do i need to report all these assets as I have earned all of them when as I was NRI. Assuming it is a YES and hence the following

1) 401k REPORTING -
a) Which section do i show it under - assuming capital assets (section D)?
B) what will be my investment cost in rupees. Seems complex if I have to compute every paycheck contribution date and corresponding Fx rate and also company match portion.
C) Do I need to report any dividends and unrealized gains in the year as income? This is my main question.

2) I have some receivables in $ from my friends and cousins for assets sold to them and loaned otherwise which will be deposited in my US Accounts this year, so wanted to make sure i capture them lest they see an increase in Bank balances next year and question.
a) do i report them in section d as capital asset? I will figure out a way to value them at Fx rates around time when i loaned them.

Btw, my only income is $6.44 from my BOA savings account interest on a balance of $90K - Sounds as stupid as I am. Great ROI. I will transfer to India within the next few months.

Thanks in advance for all who have comments and suggestions and most importantly ANSWERS.

Dilemma: Question on ITR3 Sch FA wrt 401K Disclosure

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Hi all,

Posted in Rajesh forum but also posting here since this seems like the relevant forum

I wanted to seek inputs on 3 questions that I have regarding filing my return with respect to Schedule FA Disclosure of ITR2 for AY 2016-17. I would appreciate if any member with experience can help with the following

Case Background
Returned to India around mid-Feb 2015 . Filed last year (FY2015) as Non-Resident in India
First time filing as Resident Indian post R2I - 2016 FY/ AY 2016-17 - ITR2
Not reporting schedule TR as I have paid no tax in US for the year and am not claiming any under DTAA
Major reporting For me is Schedule FA

FIRST MAJOR QUESTION - All foreign assets (I only have Bank balances, 401K and some recievables no immovable property or movable property) Do i need to report all these assets as I have earned all of them when as I was NRI. Assuming it is a YES and hence the following

1) 401k REPORTING -
a) Which section do i show it under - assuming capital assets (section D)?
B) what will be my investment cost in rupees. Seems complex if I have to compute every paycheck contribution date and corresponding Fx rate and also company match portion.
C) Do I need to report any dividends and unrealized gains in the year as income?This is my main question.

2) I have some receivables in $ from my friends and cousins for assets sold to them and loaned otherwise which will be deposited in my US Accounts this year, so wanted to make sure i capture them lest they see an increase in Bank balances next year and question.
a) do i report them in section d as capital asset? I will figure out a way to value them at Fx rates around time when i loaned them.

Help: Looking for Soft Skill Trainers

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Desired Candidate Profile
Minimum Exp : 0 - 1 years
Salary : 2-6(Lacs) PA

Location : Jalandhar
Number of Posts/Positions : 25
Key-skills : Communication Skills, Good communication and interpersonal skills





Job Description
Require Soft Skill Trainers who along with training in soft skill can handle English Subject with verbal Ability.
Master's in English will be an added advantage.
Fresher with Good Communication skills can also apply.
Interested candidate can share their CV's to the mail id below.
career@tdsgroup.in
Functional Area Education

Surrender flat in India

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Hi Rajesh and all,

Does any body know the process and penalty involved in surrendering a flat in India? Papers given by the builder mentions it is at builder discretion in terms of surrender and penalty imposed. Reason for surrender is that builder has not started the construction even after 2 years. Per builder all the approvals have not been granted. If anybody has gone through the experience, please share. Also, what are the do's and dont's while surrendering a flat? How much is the penalty expected?

Thanks in advance.

Dilemma: I want to return to India but job?

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First of all, hello everyone.
I was honestly searching for such a forum for years because I've always had dilemmas about my life. I currently live in the US and have been living here since the first grade. (I'm in 12th right now). Every time I come from India, I always get this deep feeling that I'm missing many things that I don't get here. I feel happy and get depressed when my Mom talks about how she used to live in her village and how she would celebrate Diwali or attend weddings. So in the recent years, I decided that I will definitely settle in India once my education is over. But here is where the dilemma starts. I plan to get an undergraduate degree in Business Administration when I go to college next year. Since I want to settle in India, I also wish to go to India after my four years to get work experience. But what kind of job would I get with this degree? Will I be considered a better candidate for a good job since my degree would be from India? My honest dream is to live in India because every time I come to America from India, I leave part of my soul behind. But, as the quote at Chatrapathi Shivaji International Airport says, "Indian at heart, global in spirit." It would be great if you guys can leave some advice and it would help me to talk to my people.
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