r2i forum

Hello
I tried researching about this and could not find the answer for the following situation. Can one of you kindly answer?
Scenerio : US Citizens of Indian Origin are buying site (BDA) at Bangalore using their own funds.
1. Which registration is beneficial from tax perspective? Joint or Single? Can you breifly explain?
2. Let us say after few years they sell the land and they get gains. Will the gains be jointly distributed, if it is on Joint ownership?
3. Husband is still working and wife is not. I thought the registration can be done in the name of wife. When the land is sold, wife will be in lower income bracket and also will pay lower capital gains. Is my understanding right? Is there any disadvantage of holding the ownership in single name?
4. Are you guys aware of nomination facility at the time of registration? Where wife nominates the husband at the time of registration.
Pointers to Any other additional info pertaining to the above situation will be appreciated.
Thank You
SSPP

r2iby2007;285164I tried researching about this and could not find the answer for the following situation. Can one of you kindly answer?
Scenerio : US Citizens of Indian Origin are buying site (BDA) at Bangalore using their own funds.
1. Which registration is beneficial from tax perspective? Joint or Single? Can you breifly explain?
2. Let us say after few years they sell the land and they get gains. Will the gains be jointly distributed, if it is on Joint ownership?
3. Husband is still working and wife is not. I thought the registration can be done in the name of wife. When the land is sold, wife will be in lower income bracket and also will pay lower capital gains. Is my understanding right? Is there any disadvantage of holding the ownership in single name?
4. Are you guys aware of nomination facility at the time of registration? Where wife nominates the husband at the time of registration.
Pointers to Any other additional info pertaining to the above situation will be appreciated.

Sorry, do not know answers to all questions, but let's try some:
#2. Gains should be on to whoever registers the property.
#3. What does income bracket have to do with capital gains? In India, you need to either pay tax or reinvest or put it in some capital gains bonds. In US, the first 250K / 500K is tax free provided you can show it as 1st home. Or, are you planning to show as investment home (land)?
If you can think through how you plan to dispose of this property (main home / investment home), you could probably answer question 1 above too.
Again, I am not an expert ... and this is mainly to stimulate thinking ...