4.4 M Subscribers Hello Friends, Welcome to our Official Channel of AKT Associates, I am CA Arun Tiwari a Chartered Accountant with expertise in NRI tax and Legal matters, I also Advise and Represent in Assessment and Appeal Cases with Income Tax and GST Appellate Authorities. I am an Avid Reader, Long term Investor, Love to drive and Explore.
I am strong Believer of Earn to live and not Live to Earn, If you are one want to achieve early Financial freedom by managing your investment and taxes in best possible way, you can follow me.
You can reach out to the my team with your queries at 8080088288 or cs@aktassociates.com
Hello sir i have a question for example If i earn profit of 1 crore from my business than i have to pay tax 30-40% but if i reinvest that 1 crore profit in stock or mutual fund and hold it for 1 year can i reduce my tax 30-40 to 12.5 % as a long term capital gain is it possible?
No, you can't reduce your tax that way. The initial business profit is taxed at the regular rate, and only the gains from the reinvestment after one year would qualify for long-term capital gains tax at 12.5%. and reinvesting in stocks or mutual funds doesn't qualify for tax reduction. Tax benefits on reinvestment are only allowed for property investments. for more information feel free to contact our NRI Desk at cs@aktassociates.com or 8080088288
There is a saying in Tamil which goes like this: "Your karma (or sins) will not be wiped out even after going on a pilgrimage to Kashi!". Hence, it would be utterly foolish for an NRI, unless he/she has any intention of returning to India and permanently settling down, to have anything to do with the Indian legal system, income tax department, property registration department, etc., once he/she had disposed of any real estate property in India. Sell it, repatriate whatever you can salvage out of the sale amount and never look back. That would be my advice!
Thank you for the very useful information; we appreciate your effort in putting it together. What are some example platforms for FII mutual funds you mentioned in the video?
You mentioned that TDS will be deducted while you were talking about NRE account. So do I have to pay taxes on my NRE Demat account or only on NRO demat account? If only for NRO, why will TDS be deducted for NRE account?
Yes, your uncle can gift you agricultural land as he is considered a close relative under FEMA, but you cannot sell or develop it. If you have any queries feel free to contact our NRI Desk at cs@aktassociates.com or 8080088288
Hello, I am writing this comment from USA. Your video is invaluable for NRIs. There many Indians in USA who are gradually becoming Citizens and thinking seriously to sell their Own property ( not inherited). Your tips will be very helpful to them. Suggest, keep giving the advice to NRIs on property as it is not much precisely discussed and is confusing too. Good luck..
@shekharraje5188 Thank you so much for your kind words! I'm glad you found the video helpful. I'll continue sharing insights on property matters for NRIs to help clear up the confusion. Stay tuned for more! If you have any queries feel free to contact our NRI Desk at cs@aktassociates.com or 8080088288
I heard Honorable FM speaking last week in the parliament amending the initial and giving two options and choose whichever is resulting in less tax. Two options are with indexation like before at 20% plus surcharge or without indexation at 12.5%. Is this amendment coming or not and is it applicable for NRIs as well or only to residents.
Sir property purchased date : Nov 2009 Purchase value: 12 Lakh Owner/Seller : NRI Property sell (in plan) : Sep 2024 Sell value : 26 Lakh Buyer: Resident Is CII still in place and can be utilized? If yes/no, in both case What would be the TDS % buyer need to deduct? Please guide. Thanks in advance.
Yes, the interest paid on a loan for the property can be deducted from the capital gains when selling, but only if the loan was taken for the acquisition, construction, or improvement of that property.
You have to pay more taxes. In India people living standards are not improving but they are taxes are increasing day by day. Modi has destroyed whole country except his friends Adani and Ambani. Rising inflation, unemployment, standards of education and Healthcare systems are the key issues Indian must address regardless which political party or ideology you support.
Yes, you need to send documents to your AO to update your PAN status to Non-Resident. Updating online is just the first step; physical verification is usually required. For more information contact 8080088288
Since the indexation has been restored (20% with indexation or 12.5% without indexation whichever is beneficial, this video is no longer valid/ helpful.
Hello sir, can we open normal savings bank account with nri addar card? Before I have nro and nri account. Can we open normal indian bank account? Please answer me
No, according to the FEMA guidelines, Non-Resident Indians (NRIs) cannot have a savings account in their name in India. For more information feel free to contact our NRI Desk at cs@aktassociates.com or 8080088288
the rule and regulation has been rolled out by IT of India. There is no clear and official documentation on what to do when PAN is marked as inoperative or in-active. You mentioned something about letter. My friends did that, 3-4 times follow up, mailed document from UK to India. There is no confirmation or acknowledgement on status. After 6 months, no progress. He has hired CA's in India to help. No luck either. Its just messed up stuff right now with this rolled out. Good luck to everyone who are trying to sort out this.
One thing looks little conflicting, in india all payments are made or handed over as a draft while buyer and seller reaches registrar office and that exchange is done while signing the papers, am i right or missing something
This rule that Buyer should deduct 20% TDS if they are buying from NRI/OCI. How do we inform IT that I am reinvesting bonds or another property and avoid TDS?
Sir, if only senior IRS people of IT dept do sincere job (with adequate digital knowledge?) linking the annual income of all PAN/Aadhaar card holders with AIS every year, these scams and discrimination will vanish. Probably the intention is not to try tested technology and pull on the bureaucracy till retirement and enjoy Govt pension!
@AKTAssociatesOfficial Yes corruption is at the same level in many other countries like the sub Saharan third world countries....that's exactly what I said.
I opened some Demat accounts when I was in India I have to invest only in direct stocks no mutual funds and IPOs... Currently I m doing investment with my regular brokers no problem facing. I m here in Kuwait from last 3 years. ... I understand from your video that if I open nre pins account and Demat than it is better when. I want to move funds from India to another country.. now here is a question if I open a nre pins account and nre pins Demat . Then is their any effect will we on my regular brokers while investing through both Demat regular and nre Demat ...? Similarly is their any effect will be on my regular saving accounts if I open a NRI pins bank account .. can I manage both of them at a same time....?
I opened some Demat accounts when I was in India I have to invest only in direct stocks no mutual funds and IPOs... Currently I m doing investment with my regular brokers no problem facing. I m here in Kuwait from last 3 years. ... I understand from your video that if I open nre pins account and Demat than it is better when. I want to move funds from India to another country.. now here is a question if I open a nre pins account and nre pins Demat . Then is their any effect will we on my regular brokers while investing through both Demat regular and nre Demat ...? Similarly is their any effect will be on my regular saving accounts if I open a NRI pins bank account .. can I manage both of them at a same time....? I opened some Demat accounts when I was in India I have to invest only in direct stocks no mutual funds and IPOs... Currently I m doing investment with my regular brokers no problem facing. I m here in Kuwait from last 3 years. ... I understand from your video that if I open nre pins account and Demat than it is better when. I want to move funds from India to another country.. now here is a question if I open a nre pins account and nre pins Demat . Then is their any effect will we on my regular brokers while investing through both Demat regular and nre Demat ...? Similarly is their any effect will be on my regular saving accounts if I open a NRI pins bank account .. can I manage both of them at a same time....?
Yes, you can maintain both regular and NRE PINS Demat accounts simultaneously. There's no impact on your regular accounts or investments. NRE PINS is specifically for investing foreign funds in India. Consult CA Arun Tiwari for detailed guidance on managing both accounts effectively. Contact our NRI Desk at cs@aktassociates.com or 8080088288
One of the so called scam is charging interest for not paying advance tax though the filer is senior citizen and he is exempted from paying advance tax. It is nice to know you will be filing appeals in such cases without charging any fee.
If you buy a house you will spend for repairs,maintenance.l,property tax paid. Why govt. Had not thought of that ? THESE cost should be added instead of indexation.
Thank you for your feedback. We will try to make videos in Hindi. If you have any queries feel free to contact our NRI Desk at cs@aktassociates.com or 8080088288
Infrastructure bonds can be sold after 5 years, but their demand in the market may vary depending on interest rates and market conditions. If you need further assistance, you can consult with CA Arun Tiwari or contact our NRI Desk at cs@aktassociates.com or 8080088288
THANKS FOR YOUR VERY VALUABLE ADVISE, IN MY CASE I AM LOOSING MONEYDO YOU THINK THAT STILL I HAVE TO PAY TAX. I BOUGHT A APARTMENT IN NOIDA SECTOR 143 IN 2012 AND I PAID US$ 90000/- IN 2014 THAT TIME CONVERSION RATE WAS RS. 51/- PER US $ NOW I HAVE OFFER OF 85 LACKS AFTER PAYING TRANSFER CHARGES AND BROKRAGE NET PROCEEDS WILL BE LESS THE US $ 90000. BUT ACCORDING TO Indian CURRENCY I MADE PAYMENT OF 46 LACS AND MAKING PROFIT OF 39 LACS APPROXIMATELY AS A MATTER OF FACT APARTMENT IS STILL NOT READY. PLEASE ADVICE.
Thank you for your comment. Given the complexity of your situation, it’s best to consult with CA Arun Tiwari for detailed advice. You can also reach out to our NRI Desk at cs@aktassociates.com or 8080088288.
