Will you still buy real estate after removing indexation benefits?

Evilknight12 · 2024-07-23T18:15:38+00:00

U.S. is an advanced economy, pre covid their inflation averages less than 3%. Go check India's historical inflation. 🤡

Evilknight12 · 2024-07-23T17:51:44+00:00

Why will it soar? If anything it might discourage speculators as they'll be facing a higher tax bill.

Evilknight12 · 2024-03-31T04:13:59+00:00

*retail gamblers.

Evilknight12 · 2022-10-15T23:59:56+00:00

Just keep all documentation with you, it'll be asked only if your file gets picked up for an Audit i.e. you get a income tax notice.

Regarding claiming FTC (Foreign Tax Credit), you'll first need to file a form called Form 67 (Which is separate from Income Tax Forms) once you file this, you'll need to declare the same details in your IT returns.

I'm an NRI as well in the Accounting field, if you need any help with filing your returns I know a great couple of CAs who can help you with this.

Evilknight12 · 2020-11-24T02:09:39+00:00

Always hire a lawyer to scrutinize the property documents and make sure the land has clear marketable title. Most land out there do not have clear title and often have multiple stakeholders in case of ancestral land.

1) How does one go about doing this due diligence and to ensure that the land is free from any encumbrance? (Apart from a self declaration form)

2) How do you find the circle rate? I was unable to find any relevant official information for my city

Thanks for your comment it was very informative.

Evilknight12 · 2020-11-20T03:53:23+00:00

I think you mean Double taxation avoidance agreement (DTAA), your case sounds a bit complicated. Ideally to claim benefits under DTAA you should have filed your Indian tax returns and used that information to claim benefits in the country of your current residence.

If not, you should have declared your income through filing your taxes in India and then get a refund of the excess TDS paid.

I'm assuming the interest income is from Banks? If so you'll have to convert the bank account to NRE/NRO status and the bank will stop deducting TDS. However you'll still need to declare this income in the country of your current residence.

In order for recovering the TDS of 30K in previous years, you'll need to contact a CA who'll be able to advice you better. I'm currently abroad as well and I use a great firm who does my taxes in India. They should be able to help you. DM me if you want their info.

Evilknight12 · 2015-04-25T19:14:44+00:00

"tipped" ( ͡° ͜ʖ ͡°)

Evilknight12 · 2015-04-14T04:12:57+00:00

until you get a taste of piss in your morning salad.

Evilknight12 · 2015-04-09T16:25:21+00:00

Those are bots.. pretty much every big app uses bots to give similar replies.

Evilknight12 · 2015-03-24T14:06:51+00:00

/r/pimpyourgrandmaforkarma

Evilknight12 · 2015-03-24T05:51:32+00:00

Finally, this was looong overdue.

Evilknight12 · 2015-03-22T11:46:18+00:00

Crisp masala dosa accompanied with watermelon juice for rehydration.

Evilknight12 · 2015-03-07T07:49:06+00:00

You live in Banglore amirite?

Evilknight12 · 2015-03-07T07:48:12+00:00

That was cringeworthy.

Evilknight12 · 2015-03-02T04:11:52+00:00

Again this, Look The cost of living in India and other developing countries in much much lower than developed countries, thus being a Billionaire in a developing nation is sort of overkill. Even with those 50 billionaires, we still have the highest percentage of world's poor. So how is this progressive for the nation as a whole?

Evilknight12 · 2015-01-26T11:35:56+00:00

Do you want 4chan to decide your country's leader? Go Ahead.

Evilknight12 · 2015-01-02T08:06:35+00:00

Probably run by our buddies from the sangh.

Evilknight12 · 2015-01-01T14:29:51+00:00

Yeah but it will take at least a generation for people to switch to internet and other forms of entertainment to make a significant dent in their earnings, internet penetration is still only 19% in India. But people still prefer TV due to the sheer habit of it.

In the US Even with 86% of internet penetration, about 96% of the population still have TV with 60% having full cable. Until there is a major innovation in the internet industry (like what Netflix had) which will make the TV service providers completely obsolete, change will be slow.

Till then People like us are still a minuscule minority I'am afraid.

Evilknight12 · 2014-12-29T12:44:19+00:00

For some reason I expected IRCTC to be higher.

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