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Impact of Indian Budget 2017-18 on NRI’s

2017 Budget nri
8 Jun, 2017, 09:48AM UTC by Jaydip Mehta

Soma 350 Mg Generic The Finance Ministry indicated the rise in the speed of re-monetization and that the effects of demonetization will not sprawl across the next financial year.
Highlights of Indian Budget 2017-18 for NRI’s Where To Buy Adipex Brand Here is a synopsis of what the Union Budget 2017-18 tells NRIs

  • Taxation is at par with residents
  • No middleman required as you get an electronic system to file tax, get refunds and avail other tax related facilities
  • Transparent Property Taxation
  • Alternative paperwork for TRC (Tax Residency Certificate) must be obtained from current country of residence. This puts pressure on NRIs residing in tax-free countries.

http://collectique.co.uk/decorative-vases/2839-1x-arthur-wilkinson-royal-staffordshire-floral-pattern-vase.html Buy Phentermine In The Uk Reforms on Property Tax

  If you want to sell your property, TDS on the Sale of Property does not apply

http://nrap.co.uk/portfolio/union/   You cannot avail tax exemptions if you sell the property to a foreign company

  You can sell your immovable property only to residents, Indian companies, PIOs or NRIs

http://365saturday.com/6/   You must possess lower tax deduction certificate, or a non-deduction certificate, etc. to be able to sell your property

  You can claim a refund for LTCG (Long-Term Capital Gains) if you are eligible for the latter

 

The Government of India has created a strong market for Indian Real estate by making properties affordable. Affordability and ready-to-move option are two best bets for you to invest in Indian real estate. RERA (Real Estate Regulation Act) and Buy Xanax In Thailand demonetization offer a green signal for investing in property, boosts transparency, and generate interest and purchasing power.

http://infozene.com/tag/miniature-flying-robot/ LTCG Taxation for NRI

  The holding period of capital gains from sale of property such as land and buildings has been reduced from three to two years.

  You are eligible for various exemptions in case of LTCG

  Indexation adjusts the purchase price based on the inflation during the holding phase while relaxing your tax burden

  While computing the LTCG, the repair and renovation expenses can be added to the cost of acquisition

  The interest you paid during the preconstruction period of the property can be added to the property cost unless you have claimed it as a deduction already

  You can avoid paying tax by using your entire gain (from selling the property) into buying another house within two years or building another house within three years. Both should be done in your name

  You can also invest the LTCG in three-year bonds of Rural Electrification Corporation Ltd. and National Highways Authority of India within six months of selling the property. The new budget proposes a longer list of companies whose bonds you may buy. You may invest upto Rs. 50 lakhs in bonds per financial year.

All these changes are to encourage sellers to disclose the accurate property price.

Read more taxable income sources for NRIs

 

2 thoughts on “Impact of Indian Budget 2017-18 on NRI’s

  1. Wonderful blog! I found it while browsing on Yahoo News. Do you have any tips on how to get profit from Indian stock market? I’ve been trying for a while but I never seem to get there! Appreciate it

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