Advance Ruling is one of the "Brahamastra" to avoid any future taxation issues. Not many NRI's or Resident Indian's are aware of the same. Advance Ruling is more popular among the corporates, in the case of disputes between 2 parties or high-value transactions. Alternatively, it can help to plan income tax liability in advance and avoid any future shocks on tax liability. In layman terms, if a resident Indian has any doubt or issue related to taxation in respect of a transaction with NRI that is already undertaken or proposed i.e. Scenario A. Alternatively, if the transaction is proposed or ... Read More
Personal Lending to Family or Friends – 10 Tips to Safeguard
Personal Lending and Borrowing is very common and deep-rooted in the Indian Society. We double up as a borrower and lender depending on the situation/circumstances. With economic prosperity and ease of borrowing, personal lending has subdued but still very popular in small cities and towns. The people prefer to borrow from a known person rather than from a bank or financial institution. In many cases, it is compulsion because of low CIBIL Score or under reporting of income in ITR. It means an individual cannot avail credit facility from the bank or financial institution. Though not 100% ... Read More
Joint Home Loan – 5 Most Common MYTHS
Joint Home Loan is one of the best-marketed product by banks and HFC's. Through Joint Home Loan banks hedge their mortgage risk. These days almost all the banks insist on Joint Home Loan even if the property is bought in a single name. Quite interestingly even if the wife is non-earning/housewife then also banks insist on Joint Home Loan. The biggest carrot to SELL Joint Home Loan is Home Loan Tax Benefits. I agree that if both Husband and Wife are availing tax benefits then it makes sense to avail Joint Home Loan else it's a BIG NO. Recently, one the readers of this blog complained to RBI ... Read More
Why High CIBIL Score Does Not Guarantee Loan or Credit Card
High CIBIL Score does not guarantee loan or credit facility. I keep highlighting this point in my posts on CIBIL Score. Recently, one of the blog readers wrote to me that his home loan is rejected despite a CIBIL Score of 800. I do understand the pain and agony. At the same time, it is important for potential borrowers to understand the importance of credit behavior. Unfortunately, it is getting more difficult to avail credit or loan facility with each passing day. Business of High CIBIL Score and Marketing Strategy There are a lot of 3rd party credit agencies in the market promising a ... Read More
7th Pay Commission and Its Impact on Property Market
Recently the Govt of India approved the implementation of 7th Pay Commission. It is one of the major development for Indian Economy. I received calls/emails for my opinion on the impact of 7th Pay Commission on the property market. I thought of sharing my views through the blog :). If we go by the market reaction then definitely the impact on real estate sector will be positive. The reason being, all the real estate stocks rallied :). The builders are quite optimistic and they are anticipating improvement in the property market. The media is gung-ho about the implementation of 7th Pay ... Read More
Commercial Property Investment – Pros and Cons
Commercial Property Investment is always a mystery for a common investor. There is a general perception that Commercial Property Investment is meant only for a business class or big investors. Though it is not true always. I keep receiving queries on Commercial Property Investment from the common investors. One of the most common queries is whether to go for Commercial Property or Residential for investment purpose. Trust me in 99% cases, the buyer decides in favor of a residential property. I will share the reasons later in the post. For comparison, you may go through my post, Commercial ... Read More
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