Long Term Capital Gain Tax on Sale of Property in India

 If you are planning to sell a property in India, you must be aware of tax implications on the gain arising from the sale of such assets. Tax liability on these assets depends on the duration for which the property was held by the seller and is calculated under the head ‘Capital Gains’. Capital gains are classified into two categories - long-term capital gains and short-term capital gains. For example, you will have to pay long term capital gain tax on sale of property held for more than 2 years.

Manoj Negi

· 14,683 views

New vs Old Tax Regime: Which is better for NRIs/OCIs

 Many changes have been proposed to the new income tax slab in Union Budget 2023. The basic exemption limit has been increased from Rs. 2.5 lakh to Rs. 3 lakh and the tax rebate has been hiked on income up to Rs. 7 lakh against Rs. 5 lakh earlier. However, the old tax slabs regime is still in effect. Hence, taxpayers can choose between the two regimes - New vs Old Tax Regime - when paying their taxes. So, which tax regime should NRI taxpayers choose after the announcement of union budget 2023 for NRIs?

Manoj Negi

· 7,992 views

Want to read more?

Get ready to be enlightened!

    Copy link
    CopyCopied
    Powered by Social Snap