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Explore sophisticated tax optimization techniques that help wealthy clients minimize their tax burden while maintaining compliance.we give tax related information for educational purpose so that every one needs to be updated with authentic research-basedcontent
What are the primary methods Indian parents can use to transfer property to their Non-Resident Indian (NRI) children? Indian parents have three main options for transferring property to their NRI children: Gift Deed: This involves transferring ownership of the property to the children while the parents are still alive. It's a quick and legally sound method, especially for self-acquired properties. Will: This allows parents to maintain full control and ownership of their property during their lifetime, with the property being transferred to their children after their demise. It's ideal for distributing both self-acquired and inherited assets. Selling the Property and Transferring Proceeds: Parents can sell the property themselves and then remit the sale proceeds to their children abroad. This option is often considered for complex properties like agricultural land or when children are not present to manage the sale..
Q: NRI Tax Filing Guide 2025-26 Q. Is income below Rs. 12 Lacs tax-free for NRIs from April 1, 2025? A. No, this is a misconception. The provision for "Zero Income Tax for Income upto Rs. 12 Lacs" with a tax rebate under section 87A is applicable only to Resident Individuals in India who opt for the New Tax Regime, not for NRIs. Q. What is the threshold for NRIs to file their Income Tax Return in India for FY 2025-26? A. From April 1, 2025, NRIs are required to file their Tax Return in India if their Total Income in India exceeds Rs. 4 Lacs during the financial year. Q. What is the threshold for NRIs to file their Income Tax Return in India for FY 2024-25? A. For the financial year 2024-25, NRIs are currently required to file their Income Tax Return in India if their Total Income in India under the New Regime exceeds Rs. 3 Lacs. .
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