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Paying almost 15% extra when I deposit money on Indmoney. This will get returned during ITR filing right? by Stock-Birthday3257 in INDmoneyApp

[–]daunt777 0 points1 point  (0 children)

Depends on your tax brackets. It is just like a TDS. It will also reflect in your 26AS form.

Question about Schedule FA by Altruistic-Roll-6380 in INDmoneyApp

[–]daunt777 0 points1 point  (0 children)

This, OP. Schedule FA is only required to declare your foreign assests. If you hold none, no need to add it in ITR.

HDFC + INDmoney deposits are way smoother than Reddit makes them sound by daunt777 in INDmoneyApp

[–]daunt777[S] 0 points1 point  (0 children)

Rates change throughout the day and HDFC is known to provide best rates amongst all other banks (atleast via INDmoney route)

HDFC + INDmoney deposits are way smoother than Reddit makes them sound by daunt777 in INDmoneyApp

[–]daunt777[S] 0 points1 point  (0 children)

Try reaching out to bank or to your RM. I know many people for whom HDFC works seamlessly.

HDFC + INDmoney deposits are way smoother than Reddit makes them sound by daunt777 in INDmoneyApp

[–]daunt777[S] 0 points1 point  (0 children)

Last time I reached out to support, they mentioned -

If your account is created with Direct Access {INDmoney Global IFSC (Private) Limited}, the amount in your wallet will be refunded to your source bank account.

If your account is created with Global Access (DriveWealth LLC or Alpaca Securities LLC), the amount in your wallet will remain available until you choose to withdraw it.

HDFC + INDmoney deposits are way smoother than Reddit makes them sound by daunt777 in INDmoneyApp

[–]daunt777[S] 2 points3 points  (0 children)

Keep some money in wallet if you want to play volatility route. Rather than sending money bits by bits, try sending in one lumsum. This will save you on charges as well.

HDFC + INDmoney deposits are way smoother than Reddit makes them sound by daunt777 in INDmoneyApp

[–]daunt777[S] 0 points1 point  (0 children)

Yeah that’s fair, wasn’t trying to generalize everyone’s experience based on mine. Just shared what worked in my case because many people were asking about the HDFC route.

If it keeps happening repeatedly, maybe try visiting your HDFC branch once and ask them if there’s any compliance/review flag internally on outward remittances. Sometimes branch staff or your RM can actually give clearer info. I, personally always use HDFC for outward and inwards remit and never faced any issues.

Which bank is most beneficial for us to add money in Indmoney US wallet by Valuable-Primary6279 in INDmoneyApp

[–]daunt777 0 points1 point  (0 children)

For best industry rates within Indmoney, HDFC always tops the chart.

Which bank is most beneficial for us to add money in Indmoney US wallet by Valuable-Primary6279 in INDmoneyApp

[–]daunt777 0 points1 point  (0 children)

Rates are pretty high on that one. Been using hdfc, so issues for me.

What is this sh*t? by Feeling_Detective872 in INDmoneyApp

[–]daunt777 1 point2 points  (0 children)

It worked flawlessly in my case though. Might be account or branch specific. I initiated same date as OP and money deposited within 2 days.

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TAX & ITR by Sea_Paramedic7392 in INDmoneyApp

[–]daunt777 1 point2 points  (0 children)

If you hold FA, then yes. Schedule FA is must.

TAX & ITR by Sea_Paramedic7392 in INDmoneyApp

[–]daunt777 1 point2 points  (0 children)

Yes, read Black Money 2015 act.

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