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Housewife living abroad: Do I need to submit IT?

T S Khurana |228 Answers |Ask -Follow

Tax Expert - Answered on Nov 30, 2024

A certified management accountant since 1993, T S Khurana is a fellow member of The Institute of Cost Accountants of India. His areas of expertise are income tax, specifically litigation cases, and GST.

Since the last 21 years, he has also been providing expert advice on financial matters, including investments and diversification of funds, and wealth building in the long term to his clients.
He believes that investment in real estate is the safest way for better returns and wealth generation over a period of time.

A former chairman of the Chandigarh Chapter of Institute of Cost Accountants of India, T S Khurana has also served as member of its technical committee.... more

Asked by Anonymous - Jul 21, 2024Hindi

Money

My daughter is staying abroad and housewife. She sold her plot for 14 lacs for her son's education. This amount was sent to her husband a/c abroad from her brother's local indian a/c. Should she submit IT? Plz clarify.

Ans: 01. Since she has sold plot in India, there must be some Capital Gains, which are subject to Income Tax. So she needs to file her ITR in India.
Most welcome for any further clarifications. Thanks.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Question by kedar - Feb 01, 2023Hindi

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Hello Sunil ji, I am kedar & age 61, asking a question regarding the taxation on the amount of inheritance to my wife. After death my father in law (sasur ji) few years back, My mother in law (my sasu ma) had taken a decision regarding the agricultural land in their small town, which was purchased by the grandfather of my wife (father of my father in law) is develped and made it in the NA plots as per town planning scheme. these plots are now ready to sale. My sasu ma want to disribute the amont sold of these real estate plots., to her three married daughters including my wife. sir, here please guid us, regarding the amount recieved to my wife through her mother's house, is liable for any tax like capital gain or it will be treated as gift tax free amonut from mother's house as a stri-dhan (à¤¸à¥à¤¤à¥à¤°à¥€-à¤§à¤¨) and treated a tax free inheritance amont from her parants. kindly guide. thanks.

Ans: Hi Kedarji
Based on your question, apparently on property records, your mother-in-law is the owner of the land. I do not wish to get into the legal heirship aspect of the land post your father-in-law's demise and hence i would restrict my answer within the perspective of your query.

As your MIL is the legal owner and she is the person selling the land, she will be the person liable to tax for the capital gain arising on sale of the NA land.

The distribution of the net sale proceeds to the 3 daughters could be treated as gift backed up with the relevant paper work such as executing the gift deed etc., to ensure that there is no further taxability to the 3 daughters

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Asked by Anonymous - Oct 25, 2023Hindi

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Dear Sir, My mother in law (now she is no more) had a property purchased on sept. 2011 @ 25 lakh (l) now stands at nearly 60 l. and there is understanding among her three daughters that to make a release deed in the name of one daughter and in lieu of that she (future owner) will give 20 l each to other two. all daughters are house wifes. what will be IT implication of receipt of 20 l in her account. will this amount treated as capital gain? or income from other source? what documents should she keep to justify this amont?

Ans: Amount received under will/as a legal hair is not an Income.

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Asked by Anonymous - Sep 10, 2024Hindi

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Hello sir My mother selling a plot (residential land) and going to get amount of 40 laks, she wish to give that money to me (son) . She is a housewife mean not a income tax payer. 1.Did she need to pay tax. If so how much? 2. And if she given to me after paying tax should i also need to pay income tax.

Ans: Your Mother may have to pay short term or long term capital gain tax on the land sale transaction.

The tax will depend on period for which land property was held in her name and cost of (indexed cost if long term)acquisition.

Mother giving cash gift to her son is not taxed but the income you may derive from this lumpsum cash gift is taxable.

For working out detailed modalities of this tax liability please consult a CA/tax advisor.

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Tax Expert - Answered on Nov 30, 2024

Asked by Anonymous - Oct 20, 2024Hindi

Money

Sir, I am having a flat purchased in 2012 in joint name with my spouse and I am having first name. If I sell this flat and pur hase another flat where my spouse will be first holder and myself as joint holder then what will be tax liability . Kindly guide With regards

Ans: LTCG generated by Selling the Flat would be admissible for exemption u/s 54, if you purchase another Residential Property in joint names of both of you (irrespective of first or second holder), with in time limits.
Most welcome for any further clarifications. Thanks.

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Tax Expert - Answered on Nov 30, 2024

Question by Mathew - Oct 19, 2024Hindi

Money

Hi sir my father had purchased a property for 2 lack in year 1993 now he is planing to sell it for around 8 crore how much tax he must pay where to invest the amount, he might get some 2 cr in black also what to do with that amount and we want to generate a monthly income of 2 lack with this amount

Ans: 01. This transaction would generate LTCG of big amount. You may calculate your LTCG with 12.50% without Indexation or 20.00% with Indexation. You can choose the better option.
02. The best way seems to Invest this amount in House Property, in which case your both Cash & Bank amounts will be absorbed. Besides Regular Income from this property (like Rental income etc.), Capital appreciation would give you substantial push. Another justification of this Investment would be to save big on LTCG tax.
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Asked by Anonymous - Oct 15, 2024Hindi

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Sir, My annual income expected to be like Income from FD,ncd, post office etc - 185000.00 Dividend income - 15000.00 Short time capital gain - 125000.00 Total income - 325000.00 Can you please calculate my income tax liability for the next assessment year. Thanks

Ans: Based on the data provided above, there shall be no Income Tax payable.
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Asked by Anonymous - Nov 25, 2024Hindi

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Can u brief me about new indexation rule for capital gains

Ans: Under present provisions of Income Tax Act, you may opt any of the options (in case of Long Term Capital Gains), as under :
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You may calculate your tax liability under both options & may opt for the tax regime, where tax liability is minimum.
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Asked by Anonymous - Nov 25, 2024Hindi

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I have property in parts One part acquired on 2018 another in 2024 And now sold Capital gain is Indexed

Ans: Please make your question clear to be replied properly.
Sorry for inconvenience.
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For capital gains. Can I book a flat now to get possession in 3 years.

Ans: I hope you are asking for exemption u/s 54/54F only.
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Sir ,maine class 12th 2024 me complete kiya with pcb aur mujhe b.tech me admission chahiye.Toh isilye maine as a cbse private candidate maths as an additional opt kiya h 2025 ke liye.kya mai jee ke liye eligible hu ya nahi ??

Ans: Hello Anmol
No, you are not eligible for JEE. You have to clear the PCB and maths as an additional subject in the same year i.e. 2025.

If satisfied, please like and follow me.
If dissatisfied with the reply, please ask again without hesitation.
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Asked by Anonymous - Nov 29, 2024Hindi

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Hello sir, I am a 11th grade student. Now iam very confused amd depressed that what should i study now. Let me tell my goals. 1st thing is i want to get top 3 rank in my school examination and 2nd is to prepare for JEE MAIN examination and 3rd is to complete 12th std portions before May month 2025 to score a very good mark in my 12th board examination at 2026. And i also need to complete my JEE MAINS portions before november month for my Jee mains examination which is at Jan month and i need to crack it with 99 percentile at my first attempt and get into any one of the prestigious colleges. But iam very confused that what engineering should i choose. According to me I love all the engineering fields but i need to choose a field which will give the highest salary.These are the things that are revolving in my mind. Can you please give me perfect solution for my 5 confusions..

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I am 93 kgs , after my c section i have gained 23 kgs of weight,,I'm trying hard to reduce my weight but I'm not able to get my result, please help me

Ans: I understand how challenging it can feel to lose weight, especially after a C-section. It’s important to approach weight loss with patience and consistency.

Here are some tips to help you:

Start slow: Begin with gentle yoga poses like Cat-Cow, Bridge Pose, and Child’s Pose. These are safe for post-C-section recovery and help strengthen your core and back.
Focus on breathing: Pranayama (breathing exercises) like Kapalbhati and Nadi Shodhana can boost metabolism and calm your mind.
Avoid overexertion: Your body has undergone changes after childbirth. Avoid intense exercises initially, as they can cause strain.
Healthy eating: Focus on smaller, balanced meals with fresh fruits, vegetables, whole grains, and lean proteins. Avoid sugary and processed foods.
Consistency matters: Even 20–30 minutes of yoga daily can make a big difference over time.
Why seek guidance? Practicing with a yoga coach ensures safety, especially with your C-section recovery. A coach can guide you on suitable poses, breathing techniques, and relaxation methods to achieve your goals without injury.

Take it one day at a time. You’ve got this, and I’m here to help!

R. Pushpa, M.Sc (Yoga)
Online Yoga & Meditation Coach
Radiant YogaVibes
https://www.instagram.com/pushpa_radiantyogavibes/

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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