IntroductionNon-resident Indians (NRIs) frequently invest in real estate in their home country for diverse purposes, such as future retirement, generating rental income, or capital appreciation. However, when it comes time to sell these properties, they can encounter intricate tax implications governed by Indian tax laws.Understanding the nuances of Indian tax laws on property sales is […]
IntroductionIt is a fact that the taxes collected plays a dominant role in the growth and development of the Indian economy. All the residents of India pay taxes for their income earned under provisions of the Income Tax Act, 1961. Similarly, The Indian Income Tax Act, 1961 also provides certain conditions for taxation for NRIs […]
Real estate covers housing, retail, hospitality and commercial sector. Investment in real estate is a lucrative option. It attracts a lot of investors for building on wealth as it promises good returns. It acts as a catalyst for the economy. Governmental policies provide various tax concessions in the real estate sector. Deductions are permitted to encourage […]
From a buyer’s point of view, it is imperative that the property he intends to buy has a clear and undisputed title. The onus to verify the title of the property is on the buyer. It requires well-maintained land record/municipal records where all the past transactions related to the property title are duly recorded. It […]
Gifting a property is a kind gesture, and it is better to be aware of tax implications for gifting a property.We had a case where Mr Bhushan, an NRI was gifted with land situated in India by his father, a resident Indian. He wanted to know: If a land in India can be gifted by […]