NRI Legal Services

Have Income? Will be taxed! Income Tax is a matter of interest both for citizens and NRIs – though the rules of taxation for both could vary. An NRI is a person who has an Indian passport and has temporarily migrated to another country for six months or more for employment, residence, education or any other purpose. If an Indian citizen leaves the country for work abroad or as a crew on an Indian ship and spends less than 182 days in India in a year, he or she is considered non-resident for tax plans. Taxability in India depends on if an individual suits the NRI status for each year. Following are few regulations of income tax NRIs should acknowledge: An NRI has to pay tax on any income that accumulated in India or received in India. So salary received in India, rental income, interest income from fixed deposits or saving bank accounts and capital gains on assets sold in India are taxable. If the salary of an NRI is higher than the basic exemption limit for the year, he/she is...

RERA – What it means for the Property Developers RERA or Real Estate Regulation Act , 2016 can be seen as India’s real estate sectors the first regulator, legislated by the parliament in 2016. RERA attempts to deliver transparency and ethical practices that would guard the interests of buyers and also inflict punishments on erring contractors.  As per RERA, every state and union territory will have its own regulator and set of laws to direct the purpose of the regulator. Centre has outlined laws for union territories also covering the national Capital. RERA tries to address issues like delay, price, quality of construction, title and other changes that are part of the real estate business in the country. Obstructions in projects are the biggest concern faced by buyers. The causes are manifold, and the impact is enormous. For the last ten years, several projects have seen delays of up to seven years. Schemes launched after the turn of this decade have also encount...