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thanks for video, can you share info. this perticular situation , parents are indian Resident with multiple bank Fixed deposit. they decided to withdraw all FD (total amount less than usd $1 Million ) gift to their NRI kids and grand kids, so while withdraw FD 10% TDS is already deducted by default, means those are already tax paid , which deposited to NRO , than NRO to their NRE kids & Grand kids account. can you please explain do they need both 15Ca & 15CB or just 15CB? source of money is Fixed deposits & tax is already been deducted. your help appriciated , thanks in advance.

Dec 14, 2024…very informative and interesting video by Ushma. A companion video for NRI will also be equally helpful.

Mam TDS on sales of property above 50 lakh is 1 % only but you are saying 12.5% pls explain

I am an OCI living in India for more than 182 days in this financial year. Will I get indexation benefits for Capital Gain?

Not explained clearly. Do NRIs have to pay 14% TDS plus 12.5% LTCG? Total 26.5% on the sale value? As well as stamp duty ?

If money remited to nro account from foreign income' is principal remitted to nro account taxable?

tds on property purchase from nri is 20% or it is 12.5 % as on today

one of my CA said that TAN is not required in case the buyer is individual is it true?

TAN is compulsory or we can file the tds from PAN if buyer is an individual ?

Ma'am, in my case, the value of the property is ₹2.19 crore, with 25% owned by an NRI and 75% by a resident. Should I consider the surcharge rate as 10% or 25%?

Very informative. Thanks for making such great videos for NRIs like us.

If u r fond of paying money to IT dept They r always waiting with begging bowl But once u tell them that ur IT returns were not correct and u want to rectify They will impose penalty on penalty and make your life miserable

Intelligent and the most beautiful CA😊

Hi

Is there a chance of notice from itr if i reinvested 6 lakhs in the same financial year after redeeming in different mutual fund? As it becomes 12 lakhs now. Pls let me know

Mam, if nri paid considertion on behalf of his mother to buy propeety in her sloe name. Is there any way to avoid it as benami transaction . If sale deed canceled late upon being aware of rule ', will this work?

Mam, if nri paid considertion on behalf of his mother to buy propeety in her sloe name. Is there any way to avoid it as benami transaction . If sale deed canceled late upon being aware of rule ', will this work?

"Madam, I have a question. Can I pass CA by taking online coaching? Also, I am a Hindi medium student, can I pass CA in English medium? (Please reply madam❤❤❤❤) i doesn't have any guardian

I am going to purchase a NRI Residential Flat, as the Sale Value is 1.7 Crore, so I should deduct 14.95% of the total Sale Value and deposit it with I. Tax Depptt. Waiting for an early reply.

I am a NRI and realize lately that it is not worth investing in India even though the returns are good. However the higher returns are some what offset by exchange rate buy /sell differences at the time of investment and repatriation )repatriation also adds a lot of fee ). This alone contributes to 6% and above. On top of that there is an ever declining value of rupee. To give an example I invested in MFs when the dollar was 63 INR to a US$. With the $ today at 84 INR, I have lost 33% on Exchange rate alone. Your Investments in India have to exceed this minimum variances to break even. Investing in India, be it a bank CD / Mutual Funds takes you through mounds of paper formalities and in some instances ask you to be present physically in their India offices to prove you are who the applicant is. These outdated processes are not investor friendly. When it comes to repatriation, you have to meet with a CA, get forms 15XX etc signed and physically present yourself bla blah blah. To top it all if you are a US based NRI, you have to file FBAR, and the tax return has to declare all your investments, max balance and Dec 31 balance in a given year on each fund / investment. In addition to that the US and India Tax year calendars are different and apportioning the gains / losses /interest income all these adds to the complexity. Bottom line its not worth the head ache investing in India if you are a NRI and especially if you are from US. Also for the information of US NRIs, the rule changes on Indexation of purchase cost / TDS etc has no impact on US tax filing. US uses the actual purchase cost as a basis. Any tax deducted or paid in India can be claimed back in your US tax filing. None of these changes impact the NRI at the end of the day. Just my $.02.

In case of gift of property to relative by nri , any tds or capital gain tax applies?

Mam, IF nri transfer funds to his nro account through exchange office and in bank statement his name reflects as sender. Is it enough to prove its tranfered by him and not taxable income or something else required to prove the source?

If i nri gift property to resident wife, is there any tds or capital gain tax? If nri gifts to resident wife and wife sells the property how tds and capital gain will be treated? Thanks

Hi Ushma Amazing short and informative video. Please do more of these kind of videos for NRIs in future. My question is: 1) Has the new LTCG and TDS for NRIs been 2) What is the effective date if it is already notified? Thanks Anil

Is the new rule only for NRIs?. In realty the rule change doesn't impact the NRIs from USA. Reason being the IRS of US, only takes into account the actual cost of acquisition for CG purposes.

I am nri selling property for 45 lacs which is jointly owned with my father. So i am due to get 22.5 lacs only. I dont have any income in india. Will i still be taxed 13 percent? Can i get refund later even if its deducted

Some are saying tds rate on nri property has not changed even after budget 2024. Please shed some light on it. Thanks.

Tax genius is here!

Nice ushma ..keep it up

I'm an OCI, if i sell my property as an RNOR will i be able to claim Indexation allowance ?

Also please tell if we can connect you for advice and you are from which city. Thanx

Thanks. What is tds on value 2.5cr.. is there another tds rates slab above 1cr.. can you confirm. Thnx

Best consultant ever!

Very informative

मैम मेरे मित्र की माता जी ने कुछ साल का आईटीआर फाइल किया था उसके बाद उनकी इनकम खत्म हो गई थी जिसके कारण उन्होंने लगभग 6 _ 7साल आईटीआर फाइल करना छोड़ दिया था उसके बाद उनकी फैमिली पेंशन से आय होना शुरू हो गई तो उन्होंने फिर से रेगुलर आईटीआर फाइल करना शुरू कर दिया हैं। मेरा प्रश्न यह हैं कि जिन वर्षों का उन्होंने आईटीआर नही भरा हैं उसका क्या होगा? क्या आयकर विभाग उन्हें नोटिस भेज सकता हैं, क्या कोई पेनाल्टी लगेगी

Hi Mam, I missed out to File ITR Assessment Year: 2023-24 Financial Year: 2022-23 Generally i file this from Office so i avoided this msg , now it shows that you have not filed ITR also i hace recieved email that there are annual High value Transactions of 78 Lakhs actually these are credit card rotations of monthly 7 lakhs, and my income is 5 Lakh. Could you suggest what to do now and can I file ITR Assessment Year: 2023-24 Financial Year: 2022-23

Mam i have filed ITR file still i got msg. I have try to submit the option information is not fully correct i am getting error as no update has been done on existing information attributes

Hi Mam, it shows as Credit card payment Miscellaneous amount of 40 lacs , if i give feedback as information is correct then whether i need to any penalty charges?

Mam Can you explain in detail in full video

madam, thanks for the informational video. I am NRI but due to covid I was stuck in India and ended up spending entire FY 2021-22 (i.e Apr 1, 21 to Mar 31, 22) working from India. I was receiving salary in US account(after taxes). I didn't file any tax returns in India. So can I file belated tax return now? I'm guessing the interest and penalty will be substantial and govt will eat away whatever I earned. Can I take benefit of DTAA? let me know if you can help me file returns and your charges for the same. thanks.

Mam, property sale value is 1.2 Cr from nri, if 2 buyers jointly purchasing it, then individual share will be 60K then what will be the surcharge added by each individual during tds ? Is it 10% as individual share is less than 1cr or 15% as total sales value is more than 1cr ?

हिंदी vdo करे

What if a nri sells a resi property, say a plot in India, buying a house in USA, Canada 🇨🇦

Do NRI’s require an Aadhaar card to sell a property?

What is % of tax on property if someone like to repatriate money

Now, does 20% deduction is applicable for repatriation or not?

What are typical charges of a CA to upload 15 CA and 15 CB forms?

Ms. Jain I have inherited a pair of flats which were built on the property my father in law owned. What will be the tax implication if I sell the flats ?

I am an NRI let’s say I am selling a flat in India for 1 crore after 3 years from the time of purchase, what will be the total tax deducted.Please advice.

Hi Excellent video. Thanks. I have a question. I am an NRI (to be specific an OCI) and sold a residential property that resulted in LT Cap Gain. I sold the property on March 28-2023, and based on that I understand to have a Cap Gain account set up for rolling the cap gain into another purchase, i should have opened the Cap gain Account by July 31-2023. I haven't filed my taxes yet and i was told by my accountant that i must have opened the cap gain account by July 31 whether or not i filed my taxes. Is that True. Is there any exceptions to that rule for the dead line on cap Gain account opening date to be extended at all. Thank you for your service to the needy NRIs navigating the complex indian Tax laws.