r2i forum

Hello Rajesh, Are the tax slabs applicable for non-residents for long term capital gains? In other words, if there is a long term capital gain of say 2lakhs, can the initial tax slab of 1.6Lakhs (deduction) be applied for paying taxes on the remaining (40K) assuming no other source of income in ...

just a follow up question: is the tax rate slab also applicable for Long Term Capital Gain(LTCG) of immovable property like house, if the LTCG is the only income? In other words, if the LTCG is 10L (only source of income for the year) , can the basic deduction (1.6L for FY 2010-11) be done before ...

Rajesh, In one of my posts in another thread, you had stated that a NRI can open a Capital Gains NRO account to deposit the proceeds of a sale of a property. 1) Can you please let me know what is this account called in India? Is it called "Capital Gains NRO" account or something else? 2) What banks ...

[SIZE=2][SIZE=3]Rajesh, Thanks once again for all your valuable inputs. I had a couple of questions on property buying and capital gains: 1) Are there any issues or gotchas in buying a property (land) as joint owners - husband and wife? 2.a) Are there any gotchas that one needs to be aware of if two ...

Say if one contributes $3900 to a traditional IRA in 2006. But when doing the taxes only $3500 can be tax deducted because of MAGI limitations (phase out applies). Assuming the indivudual hasn't filed taxes yet for year 2006 - a. How can the indivudual withdraw the non-deductible portion $400 (3900 ...