What Are Indexation Benefits in Capital Gains? Indexation benefits are a crucial aspect of capital gains taxation in India, particularly for real estate investors. They allow taxpayers to adjust the purchase price of their property to account for inflation, thereby reducing the taxable capital gains. How Does Indexation Work in Real Estate? Adjusting for Inflation Indexation involves...
Real Estate
Understanding NRI Tax Obligations in India Non-Resident Indians (NRIs) often invest in Indian real estate, attracted by the potential for rental income and capital appreciation. However, one common question is whether NRIs are required to pay taxes on the rental income and capital gains they earn from these properties. Taxation of Rental Income for NRIs Is Rental Income Taxable in...
Understanding NRI Taxation in India As a Non-Resident Indian (NRI), you may assume that your tax obligations are limited to the country where you reside. However, if your income in India surpasses certain thresholds, you could be taxed as an Indian resident. It’s crucial to understand these rules to ensure compliance and avoid any legal hassles. When NRIs are Taxed as Indian...
In a recent ruling, the Supreme Court of India made a significant decision regarding the inheritance rights of Hindu wives in the case of marriages with Muslim husbands. The ruling clarified that Hindu wives cannot inherit the property of their Muslim husbands under Muslim Personal Law. This decision has sparked discussions and debates surrounding religious personal laws and the rights of individuals in...
Leases are a common form of property arrangement in India, particularly for land and real estate transactions. One striking feature of many leases in India is their duration of 99 years. This seemingly arbitrary number has historical, legal, and practical reasons behind it. In this blog post, we'll delve into why leases are typically for 99 years in India and explore the implications of this...
Discovering that someone has forged your property papers can be a distressing and challenging situation. Property forgery not only jeopardizes your ownership rights but also exposes you to legal and financial risks. In this blog post, we will discuss the steps you should take if you suspect or confirm that someone has forged your property papers in India. Recognizing Property Forgery Before delving...
The sale deed is a critical document in real estate transactions in India, serving as legal proof of property ownership. However, what happens if your bank, where you deposited your sale deed as security for a loan or other purposes, loses it? In this blog post, we will explore the implications of such a scenario and provide insights through real-life case studies. Understanding the Importance of Sale...
In the realm of real estate transactions in India, one common question that often arises is whether possessing a PAN (Permanent Account Number) is mandatory for property sale, purchase, or renting. PAN, issued by the Income Tax Department, serves as a unique identifier for individuals or entities undertaking financial transactions. In this blog post, we will delve into the necessity of PAN in property...
Hibanama, a concept deeply rooted in Muslim law, has been in existence since 600 A.D. While often associated with Muslims, it's essential to dispel the myth that Hibanama is exclusive to a particular community. Essentials of Hibanama: Declaration of Gift by the Donor: Donor must be a Muslim of competent age. Donor's consent should be free, given without force or coercion. Donor must be of...
In the diverse fabric of India, the term "Hibanama" transcends religious boundaries, serving as a consensual mechanism for dispute resolution applicable to all communities. This blog explores the universality of Hibanama, debunking any misconceptions about its exclusivity to a particular religious group. Understanding Hibanama: Contrary to any misconceptions, Hibanama is not exclusive to the Muslim...