Mortgaged Property is the biggest casualty of a dispute between husband and wife. Normally, i don't write on controversial subjects. Every month, i receive large no of queries on Mortgaged Property with a dispute between husband and wife. With every passing month, these queries are increasing. Though i am not a lawyer but readers consult how to resolve the dispute on mortgaged property. I don't want to get into nitty gritty of the case but trust me it is a huge financial loss to both the parties. There can be multiple scenarios, permutation, and combinations. It is not possible to cover all ... Read More
NRI Property Investment – 11 Important Guidelines to Follow
NRI Property Investment is the most discussed but least understood topic. The reason being, it is perceived to be too complex. The rules and regulations governing NRI Property Investment are different. In this post, a reference to NRI includes PIO (Person of Indian Origin) and OCI (Overseas Citizenship of India) until unless specified. Till date, i have observed two key reasons for NRI Property Investment. The primary reason is NRI's would like to settle in India after retirement. Secondly, they still feel safe and secure to invest their hard earned money in India compared to the country of ... Read More
Cost Overrun – One of the Key Reason for Project Delay
Cost Overrun is dangerous for any business. Cost overrun is a vicious cycle and increases in Geometric Progression. A geometric progression is a sequence of no's in which subsequent no is found by multiplying the previous no with fixed no. This fixed no is called common ratio. Gradually the situation goes out of control if cost increase in GP. This is a universal truth and not a pleasant situation for any business. The definition of cost overrun is an unexpected increase in cost against the budget. In other words, underestimation of the project cost. To be honest, accurate cost estimation is ... Read More
Property Purchase – Five Blunders to Avoid
A property purchase is a mixed feeling for the buyers. Normally, the buyers are super excited at the time of first property purchase. They just want to close the deal asap. Therefore, the probability of blunder is high during first property purchase. Recently, i asked one of my clients to share some property related documents. He emailed me 2 documents. He told me that he received only these 2 documents besides a copy of sale deed and couple of other documents submitted for a home loan. Now he is struggling to sell the property as he bought it 8 years back. I casually asked him, was this his ... Read More
Capital Gain Bonds – The BEST way to save Capital Gain Tax
Capital Gain Bonds is the best way to save long term capital gain. I will explain it later. The exemption through capital gain bonds is available u/s 54EC. These bonds are issued by NHAI and REC. You can invest through any of the nearest bank branches. Almost all the leading PSU and Private banks issue capital gain bonds. The value of one bond is Rs 10,000. Therefore, you can invest only in multiple of Rs 10,000. In case, your capital gain is Rs 2,37,000 then you should buy 24 bonds worth Rs 2,40,000. The credit rating of capital gain bonds is AAA i.e. highest credit rating. To hedge risk, if ... Read More
Capital Gain Deposit Account Scheme – All you want to know
Capital Gain Deposit Account Scheme is applicable for taxpayers who would like to purchase a new property to claim exemption u/s 54. In layman terms, if you have sold a property and long term capital gain is arising from the transaction. You can retain the capital gain in your Savings Account till the date of filing the Income Tax Return or till the due date of ITR filing. The last date of filing ITR is for the financial year in which capital gain arises. Normally, the due date of filing Income Tax return is July 31 for the previous Financial Year. Under extraordinary circumstances, it can be ... Read More
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