I receive a lot of queries on my blog from NRIs related to sale and purchase of property. I answer each and every query. The reason why I receive more queries from NRIs is because the rules and regulations are more complicated compared to resident Indian. There are multiple permutation and combination involved. Most of the times queries from NRIs provide me an idea for a new post on the blog :). Thanks for posting your queries. In this post, i will share important points related to sale and purchase of property by NRIs. The sale and purchase of property by NRIs is regulated under the FEMA ... Read More
Gift Tax – What Is The Tax Implication For An Individual And HUF
Everyone loves to receive gifts but hates to pay gift tax or tax on gifts. The basic definition of gift is an asset received by you without consideration. The definition of asset covers both productive and non-productive asset. Productive assets are those which fundamentally appreciates in value and provide returns like property or flat. A non-productive asset is depreciating in nature like a car. Today a car bought for 6L will be worth only 4L after 1 year. In my opinion, idle cash lying in the locker is also a non-productive asset as inflation depreciates the value of cash. All the assets ... Read More