i have two sisters younger to me , my father gave me a property(got by his own earnings) through a settlement deed,now my question is wheather my sisters can take any legal action asking for a share frm this propery ?
I used to work in Singapore for 5 years and now I am in India and have started a business of my own.
There is very little revenue from my new business, so there is no income I am drawing from it as of now. I manage my living expenses in India using the money I earned in Singapore.
In such a situation, do I need to pay any tax to Indian Government?
I am working in singapore and placed 10 lakhs in domestic fixed deposit scheme with Indian Bank in India. Am I chargeable for the income earned thro interest?
If a person is investing in Mutual funds (other than ELSS) for a long term say 3 years. Is the interest earned and principal in this way tax free?
I had booked a flat in the year 2007. After that construction started. The construction is now complete. I wish to sell the same to a buyer even before the flat being registered in my name, i.e. the sale deed will be between me, the builder, and the buyer, which will be executed in Feb 2012. I will earn some amount from this sale. How the income tax will be levied on this transaction. Whether it will be a capital gain, and if so, short term or long term?
I have an house in another country and at moment I am renting it.
Do I need to pay tax on the rental income? Do I need to declare that I own an house in another country? At moment I already paying tax in that country.
Thanks for your answer.
Yes, I am in US and I live and work here. The house in another country and I pay already tax on the propriety and I already pay tax on the money that I earn for the renting.
Anyway, how can I found in US one rofessional tax preparer. I was thinking to use Turbotax software also.
I am a scheduled tribe and exempted from TDS under sec 10(26) of income tax act but my bank has deducted tax from the interests earned from my fixed deposits. kindly guide me on how to claim the TDS fom IT dept. Is it a lenghty process? I have never filed my income tax since i dont require to so i dont have an idea how to about it.
If a persons sells his property in INDIA then are there any taxes applicable to that? If yes then how it can be exempted? How the money should be used or invested in order to avoid / minimise Income tax ?
The question is for salaried people in India who pay income tax by deduction at source by the employer.The issue is interest on fixed deposits in banks need to be included in the income from capital gains.The specific question is how does one arrange to have supporting documents for interst received.
In India if i sell a residential property (land or building) and gain some profit. how i will be taxed. and what is the maximum rate of tax over the profit earned on sale of property in india