Income from House Property and Taxes
Budget 2023 Update and Capital Gains Implications The Budget 2023 introduces a key update that affects sellers of residential property. When computing capital gains on the sale of a property, it is proposed that the seller cannot include the home loan interest—previously claimed as an income-tax deduction throughout the holding term—in the cost of acquisition. […]
Law Panel Suggests Mandatory Registration of NRI and OCI Marriages in India
Increasing Legal Issues in Inter-Country Marriages The 22nd Law Commission of India, under Justice Ritu Raj Awasthi, has made an important recommendation regarding the marriages between Non-Resident Indians (NRIs)/Overseas Citizens of India (OCIs) and Indian citizens. The commission has brought attention to the growing number of legal challenges emerging from inter-country marriages. It noted that […]
PAN-AADHAAR for NRIs and Income Taxability Provisions
PAN AADHAAR holds importance in managing finances, for Non-Resident Indians (NRIs) who are dealing with income, investments and tax regulations in India. In this article we will explore the details of income tax and investment planning for NRIs including factors like interest on accounts the need, for a Permanent Account Number (PAN) and filing income […]
Understanding Indian Real Estate Laws: Your Essential Guide
Introduction: Buying a property, particularly for first-time homeowners, can be an overwhelming and perplexing process. With countless intricate steps, obscure jargon, and complex legal terms, it’s no wonder many individuals find themselves at a loss when it comes to navigating the world of real estate in India. Fear not, as this article aims to simplify […]
CBDT’s Newly Notified Exchange Rate: How it Affects TDS Deduction on Foreign Currency Income
A decision that has attracted the attention of both corporations and taxpayers The Central Board of Direct Taxes (CBDT) recently announced a new exchange rate for the purposes of Tax Deducted at Source (TDS) on foreign currency income that will take effect on August 17, 2023. With this new development, it is crucial to comprehend […]
NRI Legal Services: Your Trusted Legal Partner for a Smooth Journey in India
Unlock Your Legal Rights in India Living overseas as an NRI doesn’t mean you forfeit your legal rights in India. Whether it’s related to banking incentives, property disputes, taxation relief, or any legal matter, you deserve peace of mind and efficient resolution. At NRI Care, we empathize with the challenges faced by NRIs in dealing […]