CAPITAL GAINS TAX OR INCOME TAX ? Which Is Better For You ?
Vložit
- čas přidán 17. 10. 2020
- #nri #nrimoneyclinic #financialplanning
You can reach to us by sending a message on WhatsApp
WhatsApp Number: 00971 551124596
Or click on the link below
wa.link/2jh25k
Services offered by NRI Money Clinic
* Life & Critical Illness Insurance.
* Child education
* Emergency Funds
* Retirement Plan
* Health Insurance
* Wealth Building
* Tax planning ( investments to minimise tax impact)
* Dollar investment ( Only for NRIs in Middle East and Africa )
* Mutual Funds ( NRIs other than in US & Canada)
* PMS ( Portfolio Management Service)
* Fractional Real Estate
* Cash flow planning (Pension, Guaranteed Return plan , Fractional real estate)
* Tax filing and chartered accountant services. (Outsourced services)
* Wills and inheritance planning. (Outsourced services)
* Property record legal verification (Outsourced service)
* Real Estate in Dubai (Outsourced service)
* Real Estate in Mumbai and Goa (Outsourced service)
In case you are interested in using our services you can send a message on Watsapp:00971 551124596 or click on the link below
wa.link/2jh25k
To know more about our business and our business model please watch the below video
lnkd.in/g7cj2rgJ
Our Website: www.nrimoneyclinic.com
LinkedIn: / nrimoneyclinic
Facebook: / nrimoneyclinicofficial
Instagram: nrimoneyclinico...
Whatsapp: 00971 551124596
Or click on the link below
wa.link/2jh25k
Absolutely useful.. what a clear cut information in a flow in a very crisp manner. Appreciate your time and help to enlighten the NRI community. Thank you.
Thanks for being there for helping us.
Short and impactful Sir ..!! You undoubtedly increasing the Financial literacy of India..!!
Thanks for Very helpful video sir.
So useful, thank you so much.
Thanks Dr. Bhat , for providing such valuable information.
Very informative. Thank you
Very nicely analyzed the difference. Thank you Sir.
Wow very informative.. Have not seen anyone teaching this topic sir... Thanks a lot
Well done ❤
Excellent video sir. Thank you for sharing your knowledge.
Good sir. Thank you.
Very useful sir, before watching this video I had many doubts but now I've got some clarity
Very nice sir….
nicely explained ... Thank you sir
Very nice and clear video sir!
What are the avenues which one can park his capital gains from sale of real estate with out paying gains tax ?
You are very clear in explanation.
I have a question
If i want to sell a flat and put the money in Capital gains tax savings bonds like National Highway bond, do I need to deposit the entire sale proceeds or only the GAIN portion?
Though I am aware of both income tax and capital gain tax I never evaluated the advantage of capital gain tax over income tax. Foolishly I have been along kept my money in FD and paid huge income tax. Even my CA never bothered to guide me. Thank you so much. I will now study about the debt fund where the risk is minimum and will invest in debt fund
So, irrespective of my tax slab, I need to pay 15% tax on Short term capital gains right sir?
can we get exemption for having two flats out of capital gain? sec 54 and 54 F differs. i think that from ay 20-21 we have option to have two flats out of capital gain.kindly advice.thanks
Capital Gains are also included in Income Tax. Items discussed in earlier e g Interest on Deposit in Bank etc is Income from Other Sources under Income Tax. Viewers have confused by distinction between Income Tax and Capital Gains Tax. It is suggested to go through Income Tax Act 1961 and latest provisions on the basis of last budget.
Can I invest in mutual funds from my NRO account I thought there were restrictions for NRI living in US and Canada
What indexation is a available for Capital Gains on Equity or ETF or MF?
It is helping not only NRIs but also resident Indians
Sir, Am an NRI who transferred $$ to my NRE a/c n later bought n sold listed Indian co. shares (STT paid) from my NRO A/C, for calculating stcg/ltcg in my case will be thru (first proviso)Sec 48 [as I have Utilized remitted foreign currency to buy/sell shares]
or U/S 115AD(1)(b)(ii)/(iii) or another?
Please let me know. Thanks!
Exemption of 100k is applicable only for residents and not nris . Pls confirm .
If NRI invests in India in long term assets, it is fine that we get exemption if invested in another property or govt. approved funds.
But the problem is, it is taxed in another country as world wide income. This exemption benefit from India is not considered say in USA. Can you explain this in another video
Sir ,if we park money in kissan vikas pathra in post office ,maturity amount will double after ten years sir.Is maturity amount is coming under income tex sir?
Sir can I purchase rural agricultural land from my capital gain amount is it taxable or not I have sold a residential vacant site
Hello Sir, very important knowledge you are giving. Request you to please make a video for NRI - how to show india capital gain and taxes paid in india, what india income and how to show while filing taxes to US. As i think there are many imp things people not aware about where to show income/capital gain taxes at citizen country(india) and file at resident county(US) ??
Sure Thank you so much for your kind suggestions. Will do a video at an appropriate time . Please subscribe and keep sharing the videos
Sir, If I am paying a capital gains tax for the shares where I made the profit and transfer the money into my bank account so do I need to pay income tax as well for the share profit income?.
No , you are only paying capital gains tax. Please subscribe and keep sharing the videos
If one who is pay tax for income from salary . And from the Equity share means in which one is applicable.? Income tax or capital gain tax?
Salary and dividend from shares come under income tax . Sale proceeds of shares come under capital gains tax
Excellent sir
Thank you so much for your kind words
Will the capital gain tax push me to higher income tax bracket
Many thanks for a fabulous video for clarity sake.
My query is which account is better to buy Mutual funds and Properties in India- NRE or NRO account?
Secondly, if I had bought MF through my NRE account then on realisation in 10-15 yrs where do I have to pay CGT - whether in India or UK( primary tax country) or both?
As per your circumstances use NRO or NRE ,. Taxation in two countries depend on double taxation agreements
Buying under NRE is always better as it is repatriable. But if you have generated income in India, you may invest in NRO.
As a non resident, which is the best place to uptake your rental income in india - in NRO account or NRE account?
only into NRo account . Please subscribe and keep sharing the videos
What if have some US Dollars and rupee depreciates after a few years, you make some gain. Is that income or capital gains?
Capital gains
Hi Sir, I am NRI and I don’t have any income in India. And if I gain profit of 2Lakhs by selling shares or MF after more than one year. Should I file tax even though gain is within 2.5 lakhs ? If I have to pay tax then will it be 10% of gain after excluding 1 Lakh exemption ?
If your total income is less than 2.50 lacs in India, you can claim for refunds of TDS.Check your 26As for TDS deduction.I get every year approx.01 lac as refund
If NRI person started Tax filing, ( due to the excess TDS from the NRO FDs) do he need to continue Tax filing to every year ? If he didn't able to continue this, what is the result ?
You need to file tax returns if you have taxable income . To claim back excess TDS , you need to file tax returns . Please subscribe and keep sharing the videos
My income as an NRI OCI citizen in india is zero but still I was filing ITR in india and paying zero income tax for the TDS from NRO account. Should I continue doing this or stop as the income is zero.
Also in the future if I have to take rental income in india from a property is it better or deposit in NRO or NRE account to save tax.
Good video sir. That's why debt funds are very handy for resident individuals as they have indexation benefit & greater compounding power and capital growth is faster in long-term than Term deposits.
Absolutely perfect observation . Thanks for your feedback. Keep sharing the videos
Banks deduct TDS from interest on FD. Do we have you to declare this income again in income tax return?. Secondly, after deduction of TDS, again income tax need to be pad ?. Incase of NRE FD, interest income is tax free? Or taxable?
TDS is not final tax . It is preventive taxation. After computation of income tax , if excess TDS is done then you can claim back this excess. On the contrary if you are liable to pay more than TDS done , then you have to pay over and above TDS done
NRE FD interest is tax free
@@NRIMoneyClinic
I HAVE LEARNT that although NRE FD income is tax free in india , it needs to be paid in the original taxed country from where the money was remitted Governments like UK are taxing Indians in their FD income in india in NRE accounts in retrospect from 2014 onwards with 150-200% penalties. Please make a video on these issues people are facing . NRE Accounts are misleading and mis sold to all NRIs - BE VERY CAREFUL
None of you youtubers mention this fact. Any capital gain will be added to our taxable income and we have to pay as per our tax slab. This is apart from 10% that we pay on the capital gains less 1lacs.
No . Not correct. Capital gains are taxed as per capital gains tax . Income is taxed as per income tax slabs
@@NRIMoneyClinic here is an example taken from ITR website.
Mr. Kapoor (age 57 years and resident) is a retired person. He purchased a piece of land
in December, 2012 and sold the same in April, 2022. Taxable LTCG on such sale
amounted to Rs. 6,00,000. Apart from gain on sale of land he is not having any income.
He deposited Rs. 1,00,000 in Public Provident Fund (PPF) and Rs. 50,000 in NSC. He
wants to claim deduction under section 80C on account of Rs. 1,50,000 deposited in PPF
and NSC. Can he do so ?
Deduction under sections 80C to 80U cannot be claimed from long-term capital gains.He can claim basic exemption of Rs. 2,50,000 (being resident individual) and has to pay
LTCG on remaining Rs. 3,50,000 @ 20% (+HEC). Thus, his tax liability before cess will
come to Rs. 70,000 and he would be liable to pay tax of Rs. 72,800 (including cess at
4%).
@@pareshnmahapatra my friend house, jewellery and others fixed assets are only included in income tax not the profit from shares