Very helpful video. Just to add to the information on the capital gains tax in India. If you bought a property for 10 lacs, 10 years ago, you are allowed to adjust its value for the inflation. In your example you sell that for 50 lacs. So you will not pay tax on 40 lacs, but on a much smaller amount since that 10 lacs will be adjusted for inflation to 16-17 lacs, per the formula provided by the IT department.
Your summarized version made such a big topic into a simple one . Infact, you may have spent time on researching for us and made it easy to understand and as well as useful within 15 mins of narrative. Great job and thank you for all your time and effort . 👍
Thank you Mandar sir for collecting all the information and summarizing the same in the video. It is indeed helpful! Agdi mojkyaa shabdat aani sopyaa bhashet 👍👌
Hello Mandar, first of all, a big Thanks to you for all your videos. Those are excellent and clean on every topic you chose. Regarding selling a property in India - I am in talks regarding selling my properties in India and what I heard is below ( I am not sure if these rules are only for properties worth > 50 Lacs). 1. First, the buyer needs to get a TAN 2. CA will take your Indian IT return details of the last 4-5 years, property papers, and current buyer-seller agreement 3. CA will calculate and apply for a "Tax Certificate" 4. Buyer will deposit the TDS (as per the calculation on the Tax certificate) on seller's behalf and give the challan to the seller (that is me) Once the property is sold and money comes to the NRO account then only CA would create Form 15 CA/CB which will be required to repatriate the money.
hi Mandar what a timing! i just completed my property transfer from india just wanted to mention another way though. so the best way is to transfer money from NRO to NRE first. this transaction doesn’t mandate 15ca 15cb and was a surprising good revealation done to me by very popular leading bank in India. once the money is in NRE simply wire it to usa. my experience is just 1 day old and just a day a go i completed this transaction thank you 🙏 for bringing up some good topics like these
CA plays important role nonetheless in advance tax filing for long term capital gains tax in india although the tax is 20% the actual tax is much low in amount because the property is valuatted at the current rate. ca can apply tax bracket correctly and save lakhs of rupees 😌
@@MandarKasture Hi Mandar, the formalitities were simple and expected like 1. I had to upload the sale deed (to prove the source of funds) and 2. sign the the typical FINCEN agreement that this is a legitimate source of funds of money and the repatriated money will be solely used for family maintenance and not anything else like gambling, investing in crypto. The FINCEN agreement also asked that i am complying with the limits. That's pretty much. The bank transeferred fund to NRE in 6 hours and once in NRE the wire got executed in 4 hours so overall the money was with me in USA within 12 hours overall.
Subscription added with bell icon. I have liked all your videos from the beginnings. Thanks for your very clear useful descriptions for the people in timely need.
I have been watching you videos from long time and really amazed by content you chose and put. This is the information was looking from long time. Thanks for sharing this . It is really helpful
That's very useful Mandar. I have been following your channel ever since my priority dates became current and even after receiving GC, I regularly follow your channel as I find very useful info. Anyway, I was already subscribed, so sent a "like" your way!!
Hello sir, this information is very helpful. I was looking for this information for a while. Now i feel good and comfortable. Thanks much for all your support and guidance.
I watch ur video most of the time. This is something will be very useful to me outside your simply version of immigration. Appreciate your work Mandhar!!!
I have liked and subscribed this channel, since, it provides very useful and valuable information. Mandar deals with important issues for people in US and Canada with such ease, love it, thanks :) Recommend everyone to join and learn.
If you are not Green Card holder and have resident account in India (first part of your video), you can transfer money directly from your account as online foreign transaction. I did it from SBI and HDFC Bank also offer the same. They did not asked any documentation and it was most cost effective as well.
Thanks Mandar. This is really helpful. Follow up question - Do we have to pay taxes in US for the money transferred from India through the channel that you described in this video.
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Very helpful video. Just to add to the information on the capital gains tax in India. If you bought a property for 10 lacs, 10 years ago, you are allowed to adjust its value for the inflation. In your example you sell that for 50 lacs. So you will not pay tax on 40 lacs, but on a much smaller amount since that 10 lacs will be adjusted for inflation to 16-17 lacs, per the formula provided by the IT department.
Does this hold true with 2024 budget?
You touched upon a topic that many of us have been wondering. This was a good! Thank you.
Glad it was helpful!
Your summarized version made such a big topic into a simple one . Infact, you may have spent time on researching for us and made it easy to understand and as well as useful within 15 mins of narrative. Great job and thank you for all your time and effort . 👍
Thanks for you kind words
Thank you Mandar sir for collecting all the information and summarizing the same in the video. It is indeed helpful!
Agdi mojkyaa shabdat aani sopyaa bhashet 👍👌
Hello Mandar, first of all, a big Thanks to you for all your videos. Those are excellent and clean on every topic you chose.
Regarding selling a property in India - I am in talks regarding selling my properties in India and what I heard is below ( I am not sure if these rules are only for properties worth > 50 Lacs).
1. First, the buyer needs to get a TAN
2. CA will take your Indian IT return details of the last 4-5 years, property papers, and current buyer-seller agreement
3. CA will calculate and apply for a "Tax Certificate"
4. Buyer will deposit the TDS (as per the calculation on the Tax certificate) on seller's behalf and give the challan to the seller (that is me)
Once the property is sold and money comes to the NRO account then only CA would create Form 15 CA/CB which will be required to repatriate the money.
Thanks a lot Mandar, This is exactly what I was looking for.
Glad it was helpful
Quite resourceful this video. Need to keep legal things in mind while doing financial transactions. Thanks for sharing Mandar.
Glad it was helpful!
I really liked this one as I was looking to get these details. Thank you very much for the services.
Awesome!!! Thank you for great info. I was desperate for this info to support from son’s education.
Thanks a lot Mandar!!!
You have provided answers to all the questions that I had in my mind.
This is one of the most important topics that is explained in very simple way.
Thank you!
You're very welcome!
Thanks Mandar!. This is very useful. Liked and subscribed 👍
Awesome, thank you!
This is extremely helpful. Thanks a ton!
You're very welcome!
hi Mandar what a timing! i just completed my property transfer from india just wanted to mention another way though. so the best way is to transfer money from NRO to NRE first. this transaction doesn’t mandate 15ca 15cb and was a surprising good revealation done to me by very popular leading bank in India. once the money is in NRE simply wire it to usa.
my experience is just 1 day old and just a day a go i completed this transaction
thank you 🙏 for bringing up some good topics like these
CA plays important role nonetheless in advance tax filing for long term capital gains tax in india although the tax is 20% the actual tax is much low in amount because the property is valuatted at the current rate. ca can apply tax bracket correctly and save lakhs of rupees 😌
That's great to know Abhijeet and thanks for sharing. Was there any formalities to fulfill transferring from NRO to NRE?
@@MandarKasture Hi Mandar, the formalitities were simple and expected like 1. I had to upload the sale deed (to prove the source of funds) and 2. sign the the typical FINCEN agreement that this is a legitimate source of funds of money and the repatriated money will be solely used for family maintenance and not anything else like gambling, investing in crypto. The FINCEN agreement also asked that i am complying with the limits. That's pretty much. The bank transeferred fund to NRE in 6 hours and once in NRE the wire got executed in 4 hours so overall the money was with me in USA within 12 hours overall.
Do you pay taxes in US for that amount?
@@AbhijeetBhagat Thanks so much for sharing your experience, quick question when you say FINCEN are you referring FBAR or Form 8300 using FinCEN's?
One additional point Mandhar. Parents are allowed to transfer upto 7 Lakhs to their kids as Gift per Financial Year (April to March of next year)
Thank for sharing Logan
Very informative and helpful video. Thank you!
This was very Helpful !!
Liked and Subscribed !! Good Work.
Thank you
Very informative and useful video. Thanks Mandar!!
Great work, thanks for the information! Liked and subscribed😊
Very useful Video Mandar. Thank you
Hello Mandar,
Have liked and subscribed.
Awesome videos anyway which I've been watching over a year.
Thank you very much!
Thank you!
Subscription added with bell icon. I have liked all your videos from the beginnings. Thanks for your very clear useful descriptions for the people in timely need.
Thank you
Thank you for providing this information..thank you very much!! Subscribed, liked and commented 😀
Awesome, thank you!
Thanks for the precise and clear, to the point explanation. ✌
Hope it helps
Thank you Mandar for informative video. Liked video and already a subscriber.
Excellent info, Thanks!!!
Also i have subscribed your channel for immigration updates. In fact, i wait for your video which is coming after visa bulletin release. Thanks much
Thanks Mandhar. I really like your video’s. Liked and subscribed to your channel…
I have been watching you videos from long time and really amazed by content you chose and put. This is the information was looking from long time. Thanks for sharing this . It is really helpful
I was waiting for this topic, thanks
Most welcome 😊
Had many questions about this topic. Thanks for clarifying them
Glad it helped
Liked and Subscribed. most awaiting topic.
Thank you Mandar for sharing this!
That's very useful Mandar. I have been following your channel ever since my priority dates became current and even after receiving GC, I regularly follow your channel as I find very useful info. Anyway, I was already subscribed, so sent a "like" your way!!
Thanks a lot
Very knowledgeable video
Just perfect
This is useful info. Thanks for this video.
Glad it was helpful!
Subscribed and liked. Thanks for all the very useful information!
I am in an exact situation as described and find this information very relevant. Thank you!!
Subscribed and liked.Great topic 👌👌
Thanks for the information. Liked and Subscribed
Thanks for the sub!
Thanks for the information!!!
Subscribed and liked. Thanks for all the very useful information you share through this channel.
This was very insightful. Thank you
Thank you
Subscribed and the video is good. Much needed topic after many got their green card last year
Thanks for the informative video! 👍🏻
Glad it was helpful!
Well researched information as always. Thanks Mandar!
Hello sir, this information is very helpful. I was looking for this information for a while. Now i feel good and comfortable. Thanks much for all your support and guidance.
Excellent information. Thanks Mandar.
My pleasure
I watch ur video most of the time. This is something will be very useful to me outside your simply version of immigration. Appreciate your work Mandhar!!!
thank you for all your time and effort .
Always welcome
subscribed and liked the video! thanks for making such videos!
Subscribed and liked the video. Very helpful information.
Thanks for providing informative information on this topic.
Subscribed, liked and commented
This information is awesome. Thank you so much
Liked and subscribed!! Also make a video on US to INDIA transfer options, limits, tax clauses etc
Sure will do
Hi Mandar… great stuff!!!
Liked and subscribed. Very useful info
Thank you for the information 👍
Glad it helps
Very helpful & very well compiled Vedio I come across on this subject. Thank you Mandar sir
Thank you Mandar....it helps us a lot...
Very useful information. Thanks.
You are welcome
I have liked and subscribed this channel, since, it provides very useful and valuable information.
Mandar deals with important issues for people in US and Canada with such ease, love it, thanks :)
Recommend everyone to join and learn.
Saurabh Thanks for your kind words and welcome
@@MandarKasture Looking forward to more learning experiences with you, thanks for all that you are doing for everyone, much appreciated
Very useful info. Thank you!
Liked and subscribed! Informative video as always!
Your videos are very informative. I subscribed and liked your video
Very helpful. Thank you.
You're welcome!
I liked and subscribed this channel.Your videos are very helpful.
Thanks and welcome
Very helpful and to the point information ji, thank you!
Regards,
Kamal.
You are most welcome
You have a Monalisa like mysterious smile on your face giving a feeling that you are not disclosing everything you might be knowing...
That's a hilarious comment. Let me know what you would like to know.
Thanks Mandar. This is really helpful
Thank You for the good information! BTW I liked it .
Good info. Liked and subscribed!!
Thanks for such a useful and informative video🙏
Subscribed and liked. Very informative 👏
Liked and Subscribed! This is a very informative video. Thank you.
Thanks for very useful information
Welcome
Thanks again, Mandar
Always welcome
Subscribed and Liked .. you are doing good informative videos Thank you keep doing more.
Thank you
Subscribed and liked. Very useful information.
Great info Mandar bhau.
I subscribed to #WisdomTrends and liked this video. I usually watch almost all of your immigration related videos.
This is really great piece of information, Mandar 👌👌👌. Thank you so much!!
Liked and commented 😊. Already a subscriber 😊
Thanks and welcome
Hello Mandar, thank you for sharing information on this topic. I enjoy your content, its very informative. Also, liked and subscribed :)
Thank you Tejal
V good video. Finally some answers.
Glad it was helpful!
If you are not Green Card holder and have resident account in India (first part of your video), you can transfer money directly from your account as online foreign transaction. I did it from SBI and HDFC Bank also offer the same. They did not asked any documentation and it was most cost effective as well.
Thanks Mandar!
My pleasure!
Very helpful, I am facing the same problem. From Yangon Myanmar,
Great video Mandar.
Thank you
Thanks for sharing this info.
Thank you for your help..!!
Wonderful video. Process very well explained.
Many thanks!
Timely video. Thanks Mandar.. We always learn something from watching your videos
Great! That was very helpful.
Thanks for the nice and simple videos and info on immigration !! Sub n liked.
Subscribed and liked.
Very informative videos.
Very useful information, also subscribed & liked 👍 😀
I really liked this one very helpful
Glad it was helpful!
Thanks Mandar. This is really helpful. Follow up question - Do we have to pay taxes in US for the money transferred from India through the channel that you described in this video.
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Very good information. This was good for lot of friends
Glad it helped