NRI’s Guide to Investment in Immovable Property and Tax Planning Rajkumar S. Adukia B.Com (Hons.), LL.B, ICWAI, FCA radukia@vsnl.com/rajkumarfca@gmail.com 093230 61049/ 093221 39642 Preface The last few years have seen tremendous growth in the real estate sector of India. Adding impetus to the growth is the liberal policy adopted by the Government of India towards foreign investment in this sector. It appears as if this is the right time for the NRIs to invest in immovable property in India
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Facts Mr. Smith lives in his principle residence in Indianapolis. The present balance on his home mortgage that was incurred after October 13, 1987 in acquisition and secured by such residence is $300,000. Mr. Smith has no other mortgages and no other residence. He is planning to take out a loan of $240,000 to purchase a condo, close to Northwestern, for his daughters to live and planning to sell the condo when the girls graduate from Northwestern University. The loan of 240,000 will be secured
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com/static/business/business/ budget2010/> BDO 2010, Singapore Budget Commentary, viewed February 2010, <www.bdo.com.sg/pub/pub_tax/ 2010 Budget Commentary.pdf> BSL Tax Services Pte Ltd 2010, Singapore Budget Commentary, viewed 22 February 2010, <www.bslcs.com. sg/tax_commentary.htm> [2010_singapore_budget_commentary_bsl[1].pdf] BSL Tax Services Pte Ltd 2010, Singapore Budget Highlight, viewed 22 February 2010, <http://agnap.org/ publications/2010Budget Highlights.pdf> CPF Board
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Id:053-218-530 Parvez Akhter Linkon 053-225-530 Id: Act-322 {MBR} Direct Taxes In Bangladesh A tax is a financial charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state. Taxes consist of direct taxes and indirect taxes. “Pecuniary burden laid upon individuals or property to support the government a payment exacted by legislative authority”. Tax is not a voluntary payment or donation but an enforced contribution, exacted pursuant to legislative
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Erosion of the Welfare State Since 1979 Works Cited Not Included In this essay I will attempt to examine if and by how much the welfare state has been eroded since 1979. Due to length limitations I will have to oversimplify topics covered. However I will explore issues in a coherent frame work to scrutinize the continuity of the ‘classic welfare state, (Powell 1998). Many political theorists have debated the birth of the welfare state. Poor Law which can be dated back to the 14th century
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household, this means less consumption. People would have less for spending in goods and services as well as have less money for savings. b. Explain how the government can continually run budget deficits- that is; spend more than it receives in tax revenue. The government can continually run budget deficits because it has a huge national debt. Theoretically, It is believed that the budget deficit will significantly help the economy in the long run. Because with this deficit new jobs could
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1. Taxpayer bought a house in 2008 by $200,000. During 2008 through 2010, the taxpayer incurred in the following disbursement related to this property: Painting $2,000; repair of fence $1,000; replaced electrical wiring system $10,000; and adding a new room $45,000. During 2010, he sold the house by $300,000. [Review Power Point #9, pages 2 to 10] a. What is the adjusted basis of the property? Assuming no exclusions for the sale on principal residence the calculations will be the following:
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There are many differences between the tax system in Australia and the tax system in the United States. In Australia, the government provides a payment to the families to support raising children, whereas in the US, the government allows exemptions to reduce taxable income to save on taxes. Both systems have the same fundamental idea, however their approach to it is quite different. Both governments support individuals who engage in certain activities: from taking care of children to investing
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Dr. Ronald Ernest "Ron" Paul was born in 20th August, 1935 and was raised in his town of birth Pittsburgh, Pennsylvania. While in high school, where he served as the president of the student council, he met and married, in his last year in Gettysburg College, his wife Carol. Upon his graduation in 1957, the young couple moved to Durham, North Carolina, and while there, Ron attended the Duke University School of Medicine, where he pursued a medical degree and attained it in 1961.Paul and his family
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modeling • Market analysis & information gathering Monitoring: Compares the bookkeeping & reporting to the budget and forecast. Compliance Federal & State Income & Franchise Returns • Payroll & Payroll taxes • Real Estate Tax • Sales Tax • Financing Sources Advising & communicating Financing for growth -equity -debt -cash flow • Systems development • Wealth creation & retention Communicating your financial plans to: - investors - lenders - customers - other
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