Builder is asking for a Cash Payment in a Property Deal. One of the clients told me recently. I suggested against cash payment; he said that he will never be able to close a property deal. From this interaction, you can gauge the menace of black money in Indian Economy. Sometimes knowingly or unknowingly a buyer generate black money through cash payment. Another primary concern of my blog readers in small towns/semi-urban/rural areas is a lack of trust factor between buyer and the seller. In large no of cases, the cheque bounce after the property deal is completed. In this scenario, it becomes ... Read More
NRI Property – 7 Mistakes to Avoid by a Resident Indian Buyer
Are you planning to buy an NRI property? & if you are a resident Indian buyer then you should go through this post :). Usually buyers don't prefer to buy NRI Property. The reason being rules and regulations are bit complex in nature. Another reason is that the onus of compliance rests on buyers shoulder. It is little unfair as buyers cannot buy NRI Property without professional help. The biggest hassle is of TDS deduction and filing of TDS return. A buyer also needs TAN for TDS deduction. I discussed the same in my post, How to deduct TDS u/s 195?. I do agree that rules should be ... Read More
Capital Gain Tax – Short Term Capital Gain
Capital Gain Tax is least understood but most discussed topic. Capital Gain Tax is a vast topic. If i will cover both Short Term Capital Gain Tax and Long Term Capital Gain Tax in a single post then it will be injustice. Indian Tax system is very complex & it is equally difficult to explain it in a simplified manner. In this post, we will cover Short Term Capital Gain Tax and next post will be dedicated to Long Term Capital Gain Tax. To start with basics, lets understand what is Capital Gain. Capital Gain means the profit earned from the sale of Capital Assets like Property, Shares etc. ... Read More