Financial planning is slowly getting to be as commonplace as a commodity, though there are subtle underlying complexities. These could be factors like life expectancy, return expectations and rate of inflation, to name a few. For a non-resident Indian (NRI),…
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Going by the Budget 2019 proposals, a salaried individual with gross total income up to Rs 7.75 lakh can invest in various tax saving avenues and avail of different deductions to reduce taxable income to Rs 5 lakh and consequently…
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The interim finance minister abolished income tax on notional rent from the second self-occupied house, benefiting those with two houses but no outstanding loan on the second one. “Since most people don’t have housing loans running on their self-occupied second…
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Non-resident Indian property investors and buyers stand to benefit significantly from an impending tax cut that has been proposed by a panel in a bid to give the much-needed fillip to the lackluster Indian real estate sector. The possible Good…
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Rent free accommodation provided by the employer to an employee is chargeable to tax as a prerequisite under the head salary. Thus, you shall be required to pay tax on the same. The value of such perquisite is determined separately…
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Usually, Indians residing abroad keep a non-resident external (NRE) or a non-resident ordinary (NRO) accounts in India. Funds in NRE account are mostly freely repatriable outside India. You are allowed to receive income from investments in India in your NRE account and remit…
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The Indian tax authority has exempted NRIs from having to file applications online for deduction of taxes paid at source in a bid to ease hardship cases. In a new circular issued by the Central Board of Direct Taxes (CBDT),…
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Whether the real estate market remains bullish or bearish, NRIs prefer a place back in India – not just for investment returns but also to remain rooted in their country of origin. Previously, NRIs (like most other buyers and investors)…
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The interim finance minister abolished income tax on notional rent from the second self-occupied house, benefiting those with two houses but no outstanding loan on the second one. “Since most people don’t have housing loans running on their self-occupied second…
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The word ‘gift’ generally brings with it a feeling of reward and gratitude, without any obligation on part of the recipient. However, little does a recipient know that the gift could also have a tax incidence associated with it. Broadly…
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