Sir previously there was 20% TDS applicable on NRI property, which buyer had to deduct the from the total consideration & deposit with income tax department then handover the said challan to the seller, which was used to attach while filling the return of capital gain tax. Now my question is that, 1) Is there any change in TDS rate/percentage on Sale of NRI property? 2) Is there any change in filing the Capital Gain Tax returns of NRI Property? Thank you sir.
if you invest the 50lakhs in bonds ( i am assuminy that you cannot invest more than 50 lakhs) and you live in a country that has a DTAA with India, although you do not pay any tax in India but do you still have to pay tax to the country you are registers in for tax purposes.
FM should know that if I keep that 10 lakhs in bank then after adding interest this ten lakhs is certainly going to be 20 lakhs after 10-12 years. So how FM can finish indexation. This means I am not to be paid any interest. Similarly if I invest in Mutual Funds then I am getting the benefit of indexation because of increased price of MF.
BJP and Modi are looking means and opportunities where they can extract as much money as possible to fill their accounts........this Government is in the pockets of big shots like Ambani and Adani ... u can say modi and FM is a PVT slut to this big shots
Par Tribune news today, now govt allows option either LCTG 12.5% without indexation or 20% with indexation. There is another video by another CA who mentions peoperties purchased before April 2001 can be indexed and 12.5%. Very confusing, please check budget documents and clarify. Also if TDS for NRI, now reduced from 20% to 12.5% or not
Humility is an ability to value the presence of each human being on this earth. Our FM has it from her genes I think for dealing with taxes of all alike without biases.
🙏Thank You - Professional talk , quite benefits for us as an NRI. Please made more videos for NRI returning home country.What are the Tax obligations.Thank You.
Thank you for commenting. This video is focused on NRIs and their taxation. While the rule also applies to resident Indians, our primary audience is NRIs. In this video CA Arun Tiwari forgot to mention that. We also make videos for Indian residents.
I need your comments on my case. I have bought an apartment in December 2023 and I am planning to sell my house in September 2024. What is my position on CG.
Yes you have to pay Short term capital gain tax because you are selling the property less then 2 years. For more details Please contact our NRI Desk at cs@aktassociates.com or 8080088288.
I am NRI like to sell properties of 1982 now. It will be to get it's valuation to reduce the tax or pay 12.5 % + 4 % TDS. PLZ make video when notification on valuation come from govt.
You end up with lock in of 5 years and only around just 5% interest with these bond. So I do not think your money even meeting inflation rate yearly. It is very bad form of investment to save capital gain. Also as previously captial gain was lesser after indexation, now you have to invest a big chunk of you sale amount (as your total capital gain just got huge) in these saving options. Really a bad decision by government.
As NRI I bought a flat 4 years ago. As I am planning to sell the flat, do you think I should wait for the govt evaluation report before I sell. Please advise.
Govt. valuation report you take it from Sub Registrar office now also. For more details Please contact our NRI Desk at cs@aktassociates.com or 8080088288.
I (NRI) sold my property in Dec 21 and reinvested in a New property in Feb 22 to get back the CG tax. Till when do I have to wait to sell the New property so that the tax refunded earlier is not taken back by the government?
In case of properties purchased before 2001, the fair market valuation (not exceeding the stamp duty value) can be used as a base to determine the indexed price. The indexed price will then be reduced from the sale price for calculating LTCG that will be taxed at 20 per cent. For more information, you can contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
I'm an OCI with 1 property overseas and 1 property in India which i will sell and invest the proceeds into another property in India - will the buyer deduct tds & how do i claim it back as i will be reinvesting in buying another property and can i add my so onto the new property that i buy all the funds will be mine.
When filing your income tax return in India, you can show details of new property investments and claim the TDS amount. For more information contact our NRI Desk at at 8080088288 or email us at cs@aktassociates.com
If you buy a house you will spend for repairs,maintenance.l,property tax paid. Why govt. Had not thought of that ? THESE cost should be added instead of indexation.
Yes, the new 12.5% LTCG tax applies to all property sales, including those bought or inherited before 2001 and you can apply for lower TDS also. For more information contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
To open an NRI / NRE bank account, you need (1) your ID passport and ICO both documents identify your ID and residence, but Banks also demand TIN (Tax identification No). The Indian Banks can share your information with the income tax department of one's country of residence. Every individual should declare their income from all sources to the Income Tax Department. Still, when that information comes from 3rd party, then an individual can not defend or deny that information. The Indian Rupee is always on the decline and losing value. Think carefully before you open an NRI account. You will lose the value of your deposit and you can get problems problems with your country's Income Tax department.
Thankyou for the video and valuable information. We got a flat in 2012, so if we sell do we pay 12.5% tax is that right? I was hearing for NRI's Tax is 42% and hence they need to give the property as gift deed to the sister or brother who does have any property in there name and can pay 20% less tax. Also does the same 12.5% rule apply for the NRI who wants to buy flat even thought they had a flat in another place.
Hello, the new capital gains taxation rules apply even for residential vacant plots also, or only for houses? I have a plot just on my name. Can I add my wife now as the jount owner? If so, what is the procedure? Thanks.... JR
Yes, the new capital gains tax rules apply to residential vacant plots as well. You can add your wife as a joint owner, but we recommend consulting CA Arun Tiwari for specific advice on the procedure and potential tax implications. For more information, you can contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
However as for as my reading goes govt has brought back indexation rule for properties purchased before 23/ 07/24. For such properties seller has an option to use indexation to arrive at capital gains and the gains so arrived at would be taxed at 20%, whereas if no indexation is done then tax at revised rate of 12.5%. Am I correct ? Or this amendment applies to only resident Indians and not to NRIs ? Pl respond
You did not tell the crowd that if you bought a property recently then your gain is also less compared to long term. So you are lucky to get less capital gains does not arise. People who bought long time ago gained heavily n they can afford to pay the 12.5 gains with pleasure.
What about NRI who sold inherited property in April 24 before the budget announcement . Will the new rule will be applicable or we are saved with the old rules
@@AKTAssociatesOfficialare you 100% sure . I am also a chartered accountant am my understanding is from my colleagues in Europe that that any transactions after the budget date the new rules will be applicable . But if you say than I think you are professional and you are correct as you are confident in your answer
Cause parties like AAP,,KHANRES,SP TMC ETC CONTRIBUTE HANDSOMELY TO CREATE LIKE SOMALIYA IN BHARAT WITH THERE ANIT INDIAN ACTIVITIES, CORRUPTION they are stoiges of CIA /SOROS thts the reality current govt trying ti save the country n they are doing exceptionally good job
Rome wasn't built in a day , so in order to get the services you allude to 1) wait till all the infra has been upgraded ( country wide ) , 2) start paying at every nook and cornor ...and I mean for even parking your car on the front street of your house... and i haven't even star5ed paying the exorbitant train/air / metro fares !!
They themselves are eager to making it Somalia .. although right now we r at much better place .. tax is not like USA canada as we get nice interest even in saving account which they don’t have in canada
Since the indexation has been restored (20% with indexation or 12.5% without indexation whichever is beneficial, this video is no longer valid/ helpful.
Yes, the interest paid on a loan for the property can be deducted from the capital gains when selling, but only if the loan was taken for the acquisition, construction, or improvement of that property.
I am an NRI who recently sold my inherited property in June 2024 before the latest budget. To offset capital gain tax, I have invested in govt. bonds to the tune of Rs. 50 lakes. Will I be subjected to capital gains of 12.5% or based on the indexed value of 20%. Thank you.
I have a settlement deed in my favour executed by my father. Can I in turn execute it in favour of my wife by means of a settlement deed and if my wife wants to sell after a year Of my execution which date i should take for working out the capital gain
If your reinvesting sale amounts to new property, you can claim a refund whatever TDS you paid when you sold the property. For more clarification Please contact our NRI Desk at cs@aktassociates.com or 8080088288
Hello, I am writing this comment from USA. Your video is invaluable for NRIs. There many Indians in USA who are gradually becoming Citizens and thinking seriously to sell their Own property ( not inherited). Your tips will be very helpful to them. Suggest, keep giving the advice to NRIs on property as it is not much precisely discussed and is confusing too. Good luck..
@shekharraje5188 Thank you so much for your kind words! I'm glad you found the video helpful. I'll continue sharing insights on property matters for NRIs to help clear up the confusion. Stay tuned for more! If you have any queries feel free to contact our NRI Desk at cs@aktassociates.com or 8080088288
Sir I hold POA for one house whose owner is my relative who lives abroad. If i sell that house, who is responsible for paying capital gains. I assume it is original owner/NRI?
Yes, the capital gains tax liability would fall on the original owner/NRI. For more information feel free to contact our NRI Desk at cs@aktassociates.com or 8080088288
For an NRI, capital gains on ancestral agricultural property are generally not subject to tax if the property is in a rural area, but they may be taxed if it is in an urban area.
Can one add cost of interior works ( wardrobes n kitchen cabinets, etc) to the buy value to reduce the capital gain. If i sell this flat, then what proof is required required whil filing the ITR to show this additional cost.
Yes, you can add the cost of interior work, but you will need to provide proof of payment and a receipt. For more information contact our NRI Desk at at 8080088288 or email us at cs@aktassociates.com
These NRIs had taken every possible benifits from the country and migrated outside but they are crying when time for payback. They are very loyal to the country where they are staying by paying happily taxes as high as 40%. They will remember India only in crisis.
Dear AKT, I don’t agree with your analysis. Tax is a function of three variables, first is cost of acquisition, second is the rate of appreciation of the property, third is indexation, fourth is the tax rate itself. In your video, you are saying that the assets acquired a long time ago will suffer from removal of indexation. But this is not true, as the answer depends on the rate of appreciation vs the indexations ( inflation ) rate. Finally, we need to factor in the reduction from 20% to 12.5%. So if you a acquired in 2001 and sold in say 2024 the indexation is about 363, roughly 5% per annum, but if you rate of appreciation is say 17%, you would be better of in the new regime Will not lose as you say in your video 😊
Yes, NRIs cannot buy agricultural land in India. For more information feel free to contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
This budget is not for middle-class people. In simple, government want 60 to 80% from our income whether by direct tax or indirect Taxes or both. Remember, only salaried people are paying huge taxes in india 🇮🇳..😅
BJP government always worked for Ambani and Adani and not for comman man , all the People who Voted for BJP now know what a Monster they have brought to power
Dear sir, besides giving information through video, how your association helps to NRI in property matter. Please share your email for convenience of interested NRI.
AKT Associates has been dealing with NRI taxation for the last 9 years. Our main service is providing NRI Lower TDS Certificates, and we also offer NRI legal services. Through our UA-cam channel, we create videos to raise awareness among NRIs and help them comply with Indian tax laws. To know more you can check our website aktassociates.com
Long Term Capital Gains (LTCG) 12.5% and Short Term Capital Gains (STCG) 20% For more information contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
Hello sir, I am confused about indexation calculation of older properties in the new rules, for example I bought a residential plot in 1997, does it mean that I can use a fair market value as of year 2000, then use this value as my purchase value? Where is indexation coming into picture in the new rules for older oroperties before year 2001?
Many budgets are coming after the new budget written by Adhani and presented by FM in Parliament. The budget was prepared, thinkng that BJP will get 400+ seats in Parliament. Now they have to make democratic budget. Thanks to opposition for bringing democracy back in to Parliament.
@@manjusyogadance9570and There was an exemption from capital gain tax ,if we invest it in NHA or REC bonds for three years , then they extended it to five years or we have to invest it in real estate with in next three years. I wonder Adhani was aware of this when he made the budget. How ever there are many mini budgets coming after this and hope there will be a clear idea about these sooner or later before BJP lose the power.
Very simple. If the property was for 10 lak now 1 crore and 90 lak is CG then at 12.5 percent then it will be 11.25 lak. With indexation 70 lak cg means 20 percent is 14 percent.
You have to pay more taxes. In India people living standards are not improving but government is increasing taxes day by day. Modi has destroyed whole country except his friends Adani and Ambani. Rising inflation, unemployment, standards of education and Healthcare systems are the key issues Indian must address regardless which political party or ideology you support.
Try to visit India in at least 1-2 years bro, India is not same as 12 years back, huge infrastructure development is in progress, Freeways are on par with USA, we need more people like Adhani to develop ports and improve logistics infrastructure to compete with China, India digitization progress shocked the world, even beggars are using paytm,UPI payment system… 🤔
Do not speak Clown RG language. Who is getting contract as there is a system for awarding contracts. If anything is there then all these parties like Soros n china Paid parties wud have gone to courts . Since nothing is there n they themselves are giving contracts in their state govt to Adani . U can check. So be out of Modi phobia
Sir previously there was 20% TDS applicable on NRI property, which buyer had to deduct the from the total consideration & deposit with income tax department then handover the said challan to the seller, which was used to attach while filling the return of capital gain tax.
Now my question is that, 1) Is there any change in TDS rate/percentage on Sale of NRI property?
2) Is there any change in filing the Capital Gain Tax returns of NRI Property?
Thank you sir.
if you invest the 50lakhs in bonds ( i am assuminy that you cannot invest more than 50 lakhs) and you live in a country that has a DTAA with India, although you do not pay any tax in India but do you still have to pay tax to the country you are registers in for tax purposes.
FM should know that if I keep that 10 lakhs in bank then after adding interest this ten lakhs is certainly going to be 20 lakhs after 10-12 years. So how FM can finish indexation. This means I am not to be paid any interest. Similarly if I invest in Mutual Funds then I am getting the benefit of indexation because of increased price of MF.
BJP and Modi are looking means and opportunities where they can extract as much money as possible to fill their accounts........this Government is in the pockets of big shots like Ambani and Adani ... u can say modi and FM is a PVT slut to this big shots
What about 8 years ago? How much tax we need to pay, if we sell now?
Par Tribune news today, now govt allows option either LCTG 12.5% without indexation or 20% with indexation. There is another video by another CA who mentions peoperties purchased before April 2001 can be indexed and 12.5%. Very confusing, please check budget documents and clarify. Also if TDS for NRI, now reduced from 20% to 12.5% or not
Please explain one more time about NRI property of inherited property capital gain tax.
There is no Inheritance tax in India, However if you can make question more clear I will be able to answer it.
Humility is an ability to value the presence of each human being on this earth. Our FM has it from her genes I think for dealing with taxes of all alike without biases.
the revised rules are applicable to all Indians whether they are RIs or NRIs.
Absolutely 👍
🙏Thank You - Professional talk , quite
benefits for us as an NRI. Please made more videos for NRI returning home country.What are the Tax obligations.Thank You.
Thank you for your support.
I think you like NRIs very much. You could have said one statement that this rule applies to resident Indians as well as there is no change for both.
Thank you for commenting. This video is focused on NRIs and their taxation. While the rule also applies to resident Indians, our primary audience is NRIs. In this video CA Arun Tiwari forgot to mention that. We also make videos for Indian residents.
I need your comments on my case. I have bought an apartment in December 2023 and I am planning to sell my house in September 2024. What is my position on CG.
Yes you have to pay Short term capital gain tax because you are selling the property less then 2 years.
For more details Please contact our NRI Desk at cs@aktassociates.com or 8080088288.
I am NRI like to sell properties of 1982 now. It will be to get it's valuation to reduce the tax or pay 12.5 % + 4 % TDS. PLZ make video when notification on valuation come from govt.
You end up with lock in of 5 years and only around just 5% interest with these bond. So I do not think your money even meeting inflation rate yearly. It is very bad form of investment to save capital gain. Also as previously captial gain was lesser after indexation, now you have to invest a big chunk of you sale amount (as your total capital gain just got huge) in these saving options. Really a bad decision by government.
As NRI I bought a flat 4 years ago. As I am planning to sell the flat, do you think I should wait for the govt evaluation report before I sell. Please advise.
Govt. valuation report you take it from Sub Registrar office now also.
For more details Please contact our NRI Desk at cs@aktassociates.com or 8080088288.
Is there also a change in TDS calculation? Means previously the TDS calculation is on the total sale value instead of actual capital gain for NRI
I am still waiting for clarity on this rather than just like
He don't know TDS
I (NRI) sold my property in Dec 21 and reinvested in a New property in Feb 22 to get back the CG tax. Till when do I have to wait to sell the New property so that the tax refunded earlier is not taken back by the government?
Thanks for the info.
Can you explain how to sell gold that one has bought for children legally and how to send the money abroad
What to expect when a NRI wants to gift the property to their sibling in New Delhi, India?
I believe there was a clarification that properties bought or inherited before 2001 still get the indexation benefit. Can you please confirm this?
In case of properties purchased before 2001, the fair market valuation (not exceeding the stamp duty value) can be used as a base to determine the indexed price. The indexed price will then be reduced from the sale price for calculating LTCG that will be taxed at 20 per cent.
For more information, you can contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
I'm an OCI with 1 property overseas and 1 property in India which i will sell and invest the proceeds into another property in India - will the buyer deduct tds & how do i claim it back as i will be reinvesting in buying another property and can i add my so onto the new property that i buy all the funds will be mine.
When filing your income tax return in India, you can show details of new property investments and claim the TDS amount.
For more information contact our NRI Desk at at 8080088288 or email us at cs@aktassociates.com
If you buy a house you will spend for repairs,maintenance.l,property tax paid. Why govt. Had not thought of that ? THESE cost should be added instead of indexation.
In case of inheritance property bought in 1989 does the new rule of 12.5% tax apply. And can you apply for lower TDS. Thanks.
Yes, the new 12.5% LTCG tax applies to all property sales, including those bought or inherited before 2001 and you can apply for lower TDS also.
For more information contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
As per Global Income rule in US, we need to pay tax in USA on India Capitan gains right? whether its Mutual Funds or Real Estate ?
Yes, you are required to pay tax in the U.S
If you need more information feel free to contact our NRI Desk at cs@aktassociates.com or 8080088288
@@AKTAssociatesOfficial Does it apply to Non US Citizen as well? as an H1B Visa holder and only Tax resident in US?
To open an NRI / NRE bank account, you need (1) your ID passport and ICO both documents identify your ID and residence, but Banks also demand TIN (Tax identification No). The Indian Banks can share your information with the income tax department of one's country of residence. Every individual should declare their income from all sources to the Income Tax Department. Still, when that information comes from 3rd party, then an individual can not defend or deny that information.
The Indian Rupee is always on the decline and losing value. Think carefully before you open an NRI account. You will lose the value of your deposit and you can get problems problems with your country's Income Tax department.
Thankyou for the video and valuable information. We got a flat in 2012, so if we sell do we pay 12.5% tax is that right? I was hearing for NRI's Tax is 42% and hence they need to give the property as gift deed to the sister or brother who does have any property in there name and can pay 20% less tax. Also does the same 12.5% rule apply for the NRI who wants to buy flat even thought they had a flat in another place.
@lavanya996
Can you contact our NRI Desk at cs@aktassociates.com or 8080088288.
Our team will help you out.
If nri gifts property to resident wife and she sells is tds applicable if sale value less than 50 lakhs?
Will the bonds be taxed on maturity if you take distribution?
Current rates will be double of what it used to be under indexation!
Hello, the new capital gains taxation rules apply even for residential vacant plots also, or only for houses? I have a plot just on my name. Can I add my wife now as the jount owner? If so, what is the procedure? Thanks.... JR
Yes, the new capital gains tax rules apply to residential vacant plots as well. You can add your wife as a joint owner, but we recommend consulting CA Arun Tiwari for specific advice on the procedure and potential tax implications.
For more information, you can contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
However as for as my reading goes govt has brought back indexation rule for properties purchased before 23/ 07/24. For such properties seller has an option to use indexation to arrive at capital gains and the gains so arrived at would be taxed at 20%, whereas if no indexation is done then tax at revised rate of 12.5%.
Am I correct ?
Or this amendment applies to only resident Indians and not to NRIs ?
Pl respond
Indexation is removed NRI now can't take indexation benefit.
For more detail Please contact our NRI Desk at cs@aktassociates.com or 8080088288.
You did not tell the crowd that if you bought a property recently then your gain is also less compared to long term. So you are lucky to get less capital gains does not arise. People who bought long time ago gained heavily n they can afford to pay the 12.5 gains with pleasure.
Give me an example when removal of indexation is a loss to taxpayers.
How much is TDS for NRI. This is very important. Address this point.
Please contact our NRI Desk at cs@aktassociates.com or 8080088288 for more detail.
What about NRI who sold inherited property in April 24 before the budget announcement . Will the new rule will be applicable or we are saved with the old rules
When you file ITR next year new rule will applicable to you.
For more details Please contact our NRI Desk at cs@aktassociates.com or 8080088288.
@@AKTAssociatesOfficialare you 100% sure . I am also a chartered accountant am my understanding is from my colleagues in Europe that that any transactions after the budget date the new rules will be applicable . But if you say than I think you are professional and you are correct as you are confident in your answer
Sir, if I sold the property in April this year, will the new rule apply retrospectively? Thank you. Rajiv
New rule applied on immediate effect after announcing the Budget.
India is a country as Mr Chaddha of AAP party said in parliament Indian government collects tax as UK And Give services like Somalia.
Very true...the policy makers or the panel who drafted this ie.. abolishing of indexation for long tern capital gains..is a moron and stupid
Cause parties like AAP,,KHANRES,SP TMC ETC CONTRIBUTE HANDSOMELY TO CREATE LIKE SOMALIYA IN BHARAT WITH THERE ANIT INDIAN ACTIVITIES, CORRUPTION they are stoiges of CIA /SOROS thts the reality current govt trying ti save the country n they are doing exceptionally good job
True
Rome wasn't built in a day , so in order to get the services you allude to 1) wait till all the infra has been upgraded ( country wide ) , 2) start paying at every nook and cornor ...and I mean for even parking your car on the front street of your house... and i haven't even star5ed paying the exorbitant train/air / metro fares !!
They themselves are eager to making it Somalia .. although right now we r at much better place .. tax is not like USA canada as we get nice interest even in saving account which they don’t have in canada
Since the indexation has been restored (20% with indexation or 12.5% without indexation whichever is beneficial, this video is no longer valid/ helpful.
Indexation restored only for transaction upto july 2024
Does Interest paid on that property is deductible from the capital gains when selling?
Yes, the interest paid on a loan for the property can be deducted from the capital gains when selling, but only if the loan was taken for the acquisition, construction, or improvement of that property.
@@AKTAssociatesOfficial can you pls help me withdraw my NPS
I am an NRI who recently sold my inherited property in June 2024 before the latest budget. To offset capital gain tax, I have invested in govt. bonds to the tune of Rs. 50 lakes. Will I be subjected to capital gains of 12.5% or based on the indexed value of 20%. Thank you.
Please consult CA Arun Tiwari
contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
Sir we need to calculate that to tell you, Advise you to reach out to Client support at 8080088288
Is this NRI tax rule on sale of property applicable to people working in Merchant Navy?
Yes same Tax Rule applicable for Merchant Navy as well.
Feel free to contact our NRI Desk at cs@aktassociates.com or 8080088288
What about T D S for NRI When they sell there property.
What about people who have OCI and owned property for over 30 years in India.
OCI Holder also same rule applicable.
For more details Please contact our NRI Desk at cs@aktassociates.com or 8080088288.
Same rule applicable for OCI holder also.
For more detail Please contact our NRI Desk at cs@aktassociates.com or 8080088288
I have a settlement deed in my favour executed by my father.
Can I in turn execute it in favour of my wife by means of a settlement deed and if my wife wants to sell after a year
Of my execution which date i should take for working out the capital gain
We request you to take consultation with our CA for more clarification.
Please contact our NRI Desk at cs@aktassociates.com or 8080088288.
What happens to capital gain if one is going ti use entire sale proceeds plus additional amount to buy a new residence?
If your reinvesting sale amounts to new property, you can claim a refund whatever TDS you paid when you sold the property.
For more clarification Please contact our NRI Desk at cs@aktassociates.com or 8080088288
Hello, I am writing this comment from USA. Your video is invaluable for NRIs. There many Indians in USA who are gradually becoming Citizens and thinking seriously to sell their Own property ( not inherited). Your tips will be very helpful to them. Suggest, keep giving the advice to NRIs on property as it is not much precisely discussed and is confusing too. Good luck..
@shekharraje5188
Thank you so much for your kind words! I'm glad you found the video helpful. I'll continue sharing insights on property matters for NRIs to help clear up the confusion. Stay tuned for more!
If you have any queries feel free to contact our NRI Desk at cs@aktassociates.com or 8080088288
Address TDS
As an NRI what should I invest in now as real estate doesn’t seem interesting due to the new tax slab?
Watch this video, It will give you an Idea
ua-cam.com/video/THj5F5G2xUQ/v-deo.html
Sir I hold POA for one house whose owner is my relative who lives abroad. If i sell that house, who is responsible for paying capital gains. I assume it is original owner/NRI?
Yes, the capital gains tax liability would fall on the original owner/NRI.
For more information feel free to contact our NRI Desk at cs@aktassociates.com or 8080088288
If you are in US you will end up paying higher taxes as us cap gains taxes are at 20% so you will end up paying the diff here in the us
If you own ancestral agriculture property what is the capital gain? Fir NRI
For an NRI, capital gains on ancestral agricultural property are generally not subject to tax if the property is in a rural area, but they may be taxed if it is in an urban area.
Can one add cost of interior works ( wardrobes n kitchen cabinets, etc) to the buy value to reduce the capital gain. If i sell this flat, then what proof is required required whil filing the ITR to show this additional cost.
Yes, you can add the cost of interior work, but you will need to provide proof of payment and a receipt.
For more information contact our NRI Desk at at 8080088288 or email us at cs@aktassociates.com
Hi,
I have been advised that I need to pay 22.88% as an OCI holder, on sale of an apartment.
Is this correct??
Yes it is right, however you can apply for lower tds by applying for ltds certificate, For more contact 8080088288
@@AKTAssociatesOfficial Thank you, will be in touch
In both the options can i still invest an amount of 50 lacs in capital gain bonds to save tax
yes you can invest in capital gain bonds to save tax
These NRIs had taken every possible benifits from the country and migrated outside but they are crying when time for payback. They are very loyal to the country where they are staying by paying happily taxes as high as 40%. They will remember India only in crisis.
@@arunkumarrv4624 Well said 👏👏👏, I am NRI and totally agree with your statement. To be frank 90% of NRI’s are selfish.😟
PLEASE MAKE VIDEOS IN HINDI. IT WILL EXPAND YOUR VIEWER BASE TOGREAT EXTENT AND BENEFIT MORE INDIANS.
Sure I will try soon
Dear AKT, I don’t agree with your analysis. Tax is a function of three variables, first is cost of acquisition, second is the rate of appreciation of the property, third is indexation, fourth is the tax rate itself.
In your video, you are saying that the assets acquired a long time ago will suffer from removal of indexation. But this is not true, as the answer depends on the rate of appreciation vs the indexations ( inflation ) rate. Finally, we need to factor in the reduction from 20% to 12.5%. So if you a acquired in 2001 and sold in say 2024 the indexation is about 363, roughly 5% per annum, but if you rate of appreciation is say 17%, you would be better of in the new regime Will not lose as you say in your video 😊
Thank you for commenting
Is there any restriction for NRI to buy land?
Yes, NRIs cannot buy agricultural land in India.
For more information feel free to contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
सर आपके सब वीडियो बहुत अच्छे होते हैं सर क्या आप इसे हिंदी में भी बना सकते हैं क्योंकि हर इंसान को इंग्लिश नहींआती है थैंक्स धन्यवाद
प्रतिक्रिया के लिए धन्यवाद. आपके अनुरोध पर ध्यान दिया गया है, और हम हिंदी में भी वीडियो बनाने का प्रयास करेंगे.
Sir,,if i cant get LDC,,if i pay 20% TDS,,can get back this money?
Yes, you can claim a refund of the 20% TDS by filing your income tax return
Does this apply to an oci as well?
Yes, It's applicable to OCI as well.
For more information feel free to contact our NRI Desk at cs@aktassociates.com or 8080088288
Thank you
टैक्स पयेर्स कमाई मतलब देश की कमाई
जब टैक्स पयेर्स फैसिलिटी मांगे तो : मैं लसन प्याज़ नहीं खाती
This budget is not for middle-class people.
In simple, government want 60 to 80% from our income whether by direct tax or indirect Taxes or both.
Remember, only salaried people are paying huge taxes in india 🇮🇳..😅
Sad reality. 🙁
BJP government always worked for Ambani and Adani and not for comman man , all the People who Voted for BJP now know what a Monster they have brought to power
@@KPFinancialservices True in all progressive economies. There is no free lunch except for beggars.
Dear sir, besides giving information through video, how your association helps to NRI in property matter. Please share your email for convenience of interested NRI.
Please contact our NRI Desk at cs@aktassociates.com or 8080088288
AKT Associates has been dealing with NRI taxation for the last 9 years. Our main service is providing NRI Lower TDS Certificates, and we also offer NRI legal services. Through our UA-cam channel, we create videos to raise awareness among NRIs and help them comply with Indian tax laws.
To know more you can check our website aktassociates.com
@@AKTAssociatesOfficial thank you
As an NRI, am I eligible to invest in CG Bonds to avoid Taxes on selling my residential property ?
Yes you are eligible for CG Bonds, you can save taxes but you cant avoid it.
Watch this video : ua-cam.com/video/jp-iAmhdXLo/v-deo.html
Look at her smile OMG
Can an OCI invest in capital gain bonds?
Yes, an OCI can invest in capital gain bonds under Section 54EC of the Income Tax Act, 1961.
What is tds for nri now on sale of property
Long Term Capital Gains (LTCG) 12.5% and Short Term Capital Gains (STCG) 20%
For more information contact our NRI Desk at 8080088288 or email us at cs@aktassociates.com
@@AKTAssociatesOfficial0:00
If your property bought before 2001 , you will get indexation benefit
@@AKTAssociatesOfficialsir, previously buyer was supposed to do TDS of 22.8% , now is it reduced 12.5%
Hello sir, I am confused about indexation calculation of older properties in the new rules, for example I bought a residential plot in 1997, does it mean that I can use a fair market value as of year 2000, then use this value as my purchase value? Where is indexation coming into picture in the new rules for older oroperties before year 2001?
In my opinion, it is effective from 23 th July 2024.
Yes, you are absolutely right!
bad video. Doesn't cover how much TDS has to be deducted by the buyer. Instead of repeating get straight to the point or give some examples
For more details Please contact our NRI Desk at cs@aktassociates.com or 8080088288.
Many budgets are coming after the new budget written by Adhani and presented by FM in Parliament. The budget was prepared, thinkng that BJP will get 400+ seats in Parliament. Now they have to make democratic budget. Thanks to opposition for bringing democracy back in to Parliament.
Can you invest all the capital gain into the bond or there is a restrictions ? Pls let me know
@@manjusyogadance9570and There was an exemption from capital gain tax ,if we invest it in NHA or REC bonds for three years , then they extended it to five years or we have to invest it in real estate with in next three years. I wonder Adhani was aware of this when he made the budget. How ever there are many mini budgets coming after this and hope there will be a clear idea about these sooner or later before BJP lose the power.
It's great to see you guys sharing your views and engaging in discussion.
Because of this stupid things, people are selling for 70/30 cash and evade taxes
Ltcg is changed again. Make new video
We have already posted a new video.
ua-cam.com/video/mcpWRSSGKpU/v-deo.html
Very simple. If the property was for 10 lak now 1 crore and 90 lak is CG then at 12.5 percent then it will be 11.25 lak. With indexation 70 lak cg means 20 percent is 14 percent.
Now NRI will not invest in India...loss again
You have to pay more taxes. In India people living standards are not improving but government is increasing taxes day by day. Modi has destroyed whole country except his friends Adani and Ambani. Rising inflation, unemployment, standards of education and Healthcare systems are the key issues Indian must address regardless which political party or ideology you support.
Try to visit India in at least 1-2 years bro, India is not same as 12 years back, huge infrastructure development is in progress, Freeways are on par with USA, we need more people like Adhani to develop ports and improve logistics infrastructure to compete with China, India digitization progress shocked the world, even beggars are using paytm,UPI payment system… 🤔
Do not speak Clown RG language. Who is getting contract as there is a system for awarding contracts. If anything is there then all these parties like Soros n china Paid parties wud have gone to courts . Since nothing is there n they themselves are giving contracts in their state govt to Adani . U can check. So be out of Modi phobia