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Source: Live Mint When considering the sale of significant investments like shares and securities, vacant plots, and house properties, the timing of the transaction can have substantial financial implications. From the point of view of tax planning, the end of the fiscal year is the most important time to plan the sale of assets. Many…
Source: Live Mint I have worked outside India for 12 years but I will be relocating back to India in April for a better employment opportunity at an MNC. I have one residential property in India from 2010 which I will sell and instead purchase a bigger one after I return. Approximately how much tax…
Source: Live Mint Three sisters inherited one piece of land in 2003, but it was partitioned among the sisters in 2010. For the indexed cost of the purchase in the calculation of long-term capital gain, should we take the market value as of 2003 (date of inheritance) or the market value as of 2010 (date…
Source: Live Mint Confused about Hindu Undivided Family (HUF) units? This guide answers the most common questions about their tax advantages, formation, income types, and legal intricacies. Get expert insights on how to effectively manage your HUF for maximum tax savings and compliance. Read Full Article
Source: Live Mint Think you’ve nailed your property budget? Think you’ve accounted for every expense in buying your dream home? Think again—overhead costs like taxes and government fees could add a hefty 7-12% to your final bill. The biggest cost is that of stamp duty, a tax levied by state governments on the sale of…
Source: Live Mint With housing loan interest rates remaining reasonable over the years, many taxpayers have turned to loans to fund their residential property purchases. Tax laws, however, limit the deduction of housing loan interest for self-occupied properties to ₹2 lakh annually. For rented properties, the entire interest is deductible against rental income. This raises…
Source: Live Mint The father, a Christian, had gifted his new redeveloped flat to his two daughters and his wife, each with a 1/3rd share, by executing a registered gift deed in April 2022. The completion certificate was received in April 2018. The wife expired in June 2024 without a will. Her share automatically went…
Source: Live Mint I have recently shifted my residence to Dubai. I’m a beneficiary along with my brother in a trust settled by my father in India. The trust owns a residential house along with some fixed deposits (FDs). Both my parents as well as my brother continue to live in India. Last month, the…
Source: Live Mint My father passed away last year without executing a valid Will, leaving behind my mother, a son, i.e. me and my sister. He had bought a residential house in 2009 which has been equally mutated in the name of all the three legal heirs in the municipal records. We are planning to…
