Taxation of Private Trust Although there is a lot of consideration before a private trust can be created one very important element which is required to be addressed is the taxation. The primary reason is that income of a private trust is taxed differently in different structures and any ineffective planning can lead to maximization […]
Reverse Mortgage Scheme has been in presence for 8-9 years. In western countries, this product runs with huge success and is a preferred option for retirees. But in India, the same reverse mortgage had to yet take off. Not many are opting for it even though the goodies were rolled out in the second phase.
Lot of confusion prevails over capital gains taxation. There are various asset classes like equity, debt, gold & real estate where the gains are taxed differently. This happens due to the differential treatment of holding period of your investments while deriving the gains. Ideally when you make any investment you do it according to the time […]
31st July, 2014 is the last date for filing your income tax returns. Whatever tax liability you have incurred should be paid by this date. Many of us with income tax to be paid will be busy ensuring we do not miss the deadline. Any non-payment of tax due by this deadline will demand a penalty. For others also filing […]
Gifts Tax Act was introduced in India firts time in 1958 as gifts can be a big source of money laundering if there are no limits. But this tax was abolished in 1998. Realizing the misuse it was introduced again in 2004 thus making gifting a taxable transaction under head “Income From Other Sources“. So […]