Returning to India from abroad? What to know about bank accounts and taxation

New Delhi, Sept. 16 -- 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 ne... Read More

Income tax implications for inheriting fixed deposits ( FDs) after father's death

New Delhi, Sept. 15 -- My father had a few bank-fixed deposits and passed away in July 2024. He did not write any will. I am the nominee for all the fixed deposits he holds. Since my father had no tax... Read More

Understanding capital gains tax exemptions for ESOP share sales

New Delhi, Sept. 12 -- I made long-term capital gains of Rs. 80 lakhs on selling shares allotted under ESOP in June 2024. Can I put Rs.50 lakh in a capital gains bond to claim an exemption under Secti... Read More

Can a single coparcener maintain HUF status? Tax implications explored

New Delhi, Sept. 12 -- 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... Read More

Tax laws explained: How rent payments and receipts affect your tax liability

New Delhi, Sept. 12 -- Many investors are comfortable with equity and channel their surplus funds into real estate to gain the twin benefits of appreciation and rental income on such property. On the... Read More

Do I have to deduct tax for paying rent to a non-resident landlord?

New Delhi, Sept. 8 -- I live in a rented flat in Noida, U.P., paying a rent of less than two lakh per annum (INR). The flat owner is an NRI residing in Dubai, UAE. Please advise whether I, as a tenant... Read More

Can I claim an exemption by investing in residential flats under Sections 54F and 54 one after another during same year?

New Delhi, Sept. 5 -- I sold some shares during the current year on which I earned some Long Term Capital Gains (LTCG) and immediately invested the sale proceeds to buy a residential flat, say flat A,... Read More

Explained: How non-resident status is determined under FEMA regulations

New Delhi, Sept. 5 -- For non-residents, two sets of legal frameworks apply to them. The first legal framework is provided under the Income Tax Act of 1961, which deals with taxing Non-Residents' inco... Read More

Income tax news: Can I deduct tax in the husband's name and pay the balance amount to the wife for property purchase?

New Delhi, Aug. 31 -- I want to purchase a property in the joint names of the husband and his wife. The property's value is above 50 lakhs. The husband insists that the TDS on the sale proceeds of the... Read More

Explained: How can income tax be saved on selling urban agricultural land?

New Delhi, Aug. 31 -- I have Long Term Capital Gain (LTCG) on selling an ancestral urban agriculture land. How can I save taxes on such long-term capital gains? Regarding the sale of agricultural lan... Read More

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