Hi, Can someone please help me in understanding Indexation. I heard at many places “With Indexation” and “Without Indexation” What exactly it mean and how it impact on tax calculation? Thanks in advance.

1.Is long term NRE FDs interest is taxable if the status of client is changed from NRI  to Resident before the maturity of NRE FDs. 2. Do the NRE Fds need to be closed prematurely and reopen as fresh Resident FDs  or these NRE FDs will continue  as it is and ony interest earned  will […]

Sir, I am having two house property – one purchased on 1979 and located in trichy and is in my name solely. another one flat at chennai bought and completed  in 2011 in my name and my wife’s name jointly . now i want dispose off the 1979  house property and buy a new one […]

Dear Manish, Interest earned on NRE FD is Tax Free, but when NRI becomes Resident & the FD still not matured. In this case is the interest earned still Tax Free upto its maturity? immaterial of NRI or Resident. Please give your valuable advise. Rgds, Rajanna K V

Is standard deduction allowed on LTCG if there is loss in business income of proprietorship firm ?

Hello, I have put my liquid amount in hdfc liquid fund. Well it is now more than a year and if i will redeem all of them now, How the taxation will be? I have invested the same with kotak securities and i am an NRI. Thanks

I am planning to buy a house in Feb-March 2015. If i pay the stamp duty and registration charges in March 2015, Can i claim the tax benifit on it in FY 2015-16?

Hi all, I would like to know regarding the clubbing of income. I would like to know if my understanding about clubbing of income is correct or not? I open a recurring deposit for 12 months then the interest earned on the recurring deposit is clubbed to my income. However, After closing the recurring deposit […]

Respected Sir, I had applied for a Residential Unit (200 sq. yd. plot + 1500 sq. ft. constructed house) to a developer in 2010 and got home loan for this. As per Developer-Buyer Agreement payment plan I got registered plot in my name in 2011 after paying whole amount for plot. After that I paid […]

Hi, I and my wife  have bought a house, but it is solely in my name. However, for the housing loan, my wife is the co-borrower. The EMI’s are automatically deducted from my salary account. Is it possible for my wife to claim tax benefits on principle and/or interest paid for the loan as EMI? If […]