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Source: Live Mint I am a retired bank employee. My total annual income is around 15 lakhs, which is comprised of a pension, LIC annuity, rent on house property, and interest on fixed deposit. I get the advantage of one per cent being ex-staff and half per cent being a senior citizen. I am also…
Source: Live Mint My mother-in-law owns the residential property where we all reside. My husband passed away last year, leaving behind a daughter and a son. The daughter is now 21 years old, and the son is 15 years. She has decided to sell the property to fund the purchase of a house for me…
Source: Live Mint I am a non-resident Indian Citizen working abroad. I sold my agricultural land on 15 October 2022. As per Sec, I deposited the indexed capital gain in a capital gain account with a nationalised bank. 54B to purchase another agricultural land within two years from the date of sale. i.e. by 14th…
Source: Live Mint Receiving a gift, whether it’s cash, property, or a sentimental item, is always a delight. However, not all gifts come without strings attached – some may bring a tax bill along with them. Gift-giving is a cherished part of Indian culture, often reflecting love, respect, and generosity. While many gifts are modest,…
Source: Live Mint I am a non-resident Indian working abroad. I plan to return to India and live and work here for at least a few years. Am I allowed to keep my local Indian bank accounts? Do I need to open non-resident external (NRE) or non-resident ordinary (NRO) accounts? Should any income from India…
Source: Live Mint A HUF consisted of a father, his wife and their son. The wife passed away in 2010, but the HUF continued with the father and son as members. Differences arose between the father and the son. The son was allotted specific properties and separated himself from the HUF. No order was sought…
