Selling a property in India
Selling a property in India
My son is an NRI in USA. He is selling a property in India. What are the tax implications like TDS/Capital gains/exemptions etc?
8 months ago
A. Dear Client,
1. TDS (Tax Deducted at Source): When an NRI sells property in India, TDS may be applicable on the sale proceeds. The buyer is responsible for deducting TDS at the prescribed rate and depositing it with the income tax department. The current TDS rate is 20% (plus applicable surcharge and cess) on the long-term capital gains. However, if the property being sold is agricultural land, the TDS rate is typically 1%.
2. Capital Gains: The sale of property in India could attract capital ...ReadMore
Shcool Leaving certificate correction
Shcool leaving certificate correction
8 months ago
A. Dear Client,
If there is an error or discrepancy in the information mentioned on the school leaving certificate, the first step would be to approach the school administration or the concerned authority responsible for issuing the certificate. They may have a specific procedure in place for rectifying such errors.
You should submit a written application, clearly explaining the error and providing any supporting documents or evidence to support your claim for correction. It is important to maint ...ReadMore
Parking issue
Car parking in independent floors Gurgaon I live on the first floor of a three tiered omaxe independent floor building. Car parking for the three floors (ground first second) have been carved out of t
8 months ago
A. Dear Client,
In cases like this, it is advisable to first review any relevant documents such as the sales deed, agreement, or any rules and regulations imposed by the housing society or the builder. These documents may shed light on the rights and obligations of each floor owner regarding car parking.
If the documents do not specifically address the parking issue, you may need to look at the local laws and regulations. In Gurgaon, the Haryana Urban Development Authority (HUDA) may have rules o ...ReadMore
Neighbour Threatening
My Neighbour has threatened me and abused me in locality. He threatened my landlord to vacant my room else he will harm them as well. The ladies in their house physically assaulted me. It started with
8 months ago
A. Dear Client,
I understand your concern regarding the threatening behavior and abusive actions by your neighbor. It is important to prioritize your safety and take appropriate actions to protect your self-respect in such situations. Here are some steps you can consider:
1. Document the incidents: Make sure to document the incidents by keeping a record of dates, times, locations, and any witnesses present. If possible, gather any evidence such as photographs, videos, or audio recordings related ...ReadMore
I have debts of 50 Lakhs
Hi, I have debts of 50 Lakhs which I invested in day trading and lost them completely. I would like to now file an Insolvency Petition in order to gain some additional time in repaying the debts. When
8 months ago
A. Dear Client,
I would like to inform you that for filing an insolvency petition (IP) in India, it is generally required to provide the name and address of the creditors to whom you owe the debts. This information is crucial for the proceedings as it allows for proper notification to the creditors and enables the insolvency resolution process to take place.
While physical addresses are preferred, it is possible to provide alternative contact details such as email addresses and phone numbers if y ...ReadMore
resident status
in the tax year 2022-2023 I was out of india for more than 180 days. this year i started the year outside of india, and came back to visit india and have stayed here for more than 60 days but will lea
8 months ago
A. Dear Client,
I would like to inform you that determining your residency status for tax purposes in India is governed by the Income Tax Act, 1961. As per the Act, an individual's residency status is determined based on the number of days spent in India during a financial year (not the calendar year) and certain additional criteria.
To determine your residency status, you need to consider the following criteria as per Section 6 of the Income Tax Act:
1. Resident Indian: If an individual is pre ...ReadMore
Seniority rules
Im working in BMRCL (Bengaluru Metro). What the seniority rules says for different category joined employees on same date and written different exam papers for selection process. Can two categories me
8 months ago
A. Dear Client,
I would like to inform you that the rules regarding seniority of employees in a particular organization, such as BMRCL (Bengaluru Metro), would generally depend on the relevant service rules, regulations, and policies governing the organization.
In order to determine the specific rules regarding seniority for different categories of employees who join on the same date but have different selection processes, it would be necessary to refer to the applicable service rules or any othe ...ReadMore
Account hold by cyber crime branch
My bank account got hold by cyber crime branch to due to a transaction In which I send the money to retailer and that retailer did any fraud and because of that my account gets hold
8 months ago
A. Dear client,
To unfreeze your bank account, you must contact your bank to figure out the issue and resolve the underlying problem, such as paying off debts or providing evidence of innocence. Unfreezing an account is at the bank's discretion and is not always guaranteed.
DHBVN Department
sir recently i am shifted from delhi to faridabad with my family here i found that the electricity problem is very regular so after few days i mailing to sdo about this power cut but he is not repsond
8 months ago
A. Dear Client,
I understand your concerns regarding the actions taken by the SDO and the false complaint filed against your fictitious name. In such a situation, it is important to gather and preserve all evidence, correspondence, and documentation that support your claim and refute the false allegations made against you.
Here are a few steps you can consider taking in response to the situation:
1. Preserve evidence: Ensure that you have copies of all the emails you sent to the SDO and his seni ...ReadMore
Bond breaking from company
I had a bond with a Mnc company of 2 years but after working for 7 months as I was on bench I resigned from the company and served the notice period of 3 months . But now they are sending emails to pa
8 months ago
A. Dear Client,
I would like to inform you that the enforceability of the bond and the consequences for breaking it would depend on the specific terms and conditions mentioned in the agreement. It is important to review the bond agreement to determine the obligations and liabilities you have agreed to.
If you have served the notice period as required by the agreement and fulfilled all the contractual obligations before resigning, it may be argued that you have already fulfilled your obligations u ...ReadMore
