Nomad Investors’ Post

Sovereign Gold Bonds: Understanding income tax exemption on early redemption of SGBs - I had invested in Sovereign Gold Bond (SGB). I opted for early redemption after the completion of five years. Are the profits made on such early redemption also tax-exempt, like redemption on maturi - https://lnkd.in/geUgB7s4

This Budget is full of Mystery plus Historical in The view of Capital Gain taxation Historic is that !! It abolished the old indexation formula for immovable property, gold That we are doing from CA Intermediate till 22 July 2024 And From now onwards it will be more like Purchase and sale of goods with further aquisition cost Mysterious is that !! It has put all capital asset at par and charges tax based on revenue area only. That is, it reduce immovable property and gold taxes rate by 7.5 percent without indexation and reduce holding period to 24 month While in case of listed securities it increases taxes by 2.5 percent in case of LTCG and 5 percent in case of STCG So, overall you will be see that there is no change in taxation but a earning the revenue from more growing market. And, also there may be chance that, Immovable property and gold rates will further reduce to cover hike that has been seen, from last 5 to 7 years in real state market and gold Be in touch to know more #incometax #icai

The BankofUganda under the Public Finance Act of 2015 , has today advertised a scheduled auction of a treasury bond of 10 years (re opening) UG12K0302337 at a 14.375%, whose auction date is January 24, 2024. This would be a great opportunity for those interested in diversifying their investments. Take note that this investment attracts a 10% withholding tax, while coupon interest dates are scheduled for every February and August, till 2033. Happy Investment Year 2024! #CorpoarateFinance , #TreasuryBills #TreasuryBonds.

How much gold can you keep at home? CBDT (2016) allows unlimited gold holding if source of investment/inheritance can be proved. However, maximum quantities without invoice are: - Married women: 500gms - Unmarried women: 250gms - Men: 100gms If you can't explain the source of gold above these limits, it may be seized and taxed at 78% (plus a 10% penalty). If the taxpayer fails to provide an explanation, then the gold will be seized under section 132 and it will be taxable u/s 69B read with section 115BBE of the Income Tax Act. (Note: These limits are applicable only if you can't prove the source of gold. If you have proof, you can hold more gold)

Ammendments in Tax Rates for Sale & Purcjase of Properties as per Finance Act 2024 year 1st July 2024 upto 30th June 2025 FED imposed on all commercial allotments and transfer & subsequent transfers 3% filler 5% late return submission  7% non filler FED imposed on first allotment or first transfer on open plots or residential properties 3% filler 5% late return submission  7% non filler #eProperty #AtifIqbal #FBRRates #FinanceAct2024

EXCLUSIVE Important development is coming in for the Property buyers, investors and Real Estate sector in the upcoming GST Council meet on 9th September. My Report for CNBC-TV18

Ram bought a property in 2000 for 1.00 Cr. (rich man!). Sham bought a property next door in 2002 for 1.12 Cr. (richer man!). Imagine they both sold their property for 5.00 Cr. after the budget 2024 rules became applicable. Ram made a capital gain of 5.00 - 4.05 = 0.95 Cr. (considering 6% inflation/indexation). Sham made a capital gain of 5.00 - 1.12 = 3.88 Cr. (no inflation/indexation) Ram has to pay 20% tax (ouch!) and Sham has to pay 12.5% tax (Love you #nirmalatai) . Ram has to pay 0.19 Cr. in tax due to indexation benefit and Sham has to pay 0.49 Cr. in tax due to no indexation even with lower tax rate. Ram has 4.81 Cr. in hand after the sale and Sham has 4.51 Cr. Ram is happy. Sham is happier as he has contributed more to #ViksitBharat. Who would you like to be? Ram or Sham?

The U.S. continues to be a popular place for foreign investment in real estate. According to a 2023 study conducted by the National Association of REALTORS® (NAR), foreign buyers purchased over $50 billion worth of U.S. homes from April 2022 through March 2023. Eventually, foreign property owners will become sellers, and when that time comes, the transaction may be subject to income taxes and withholdings under the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA). Here is some more information to help understand FIRPTA Rules.

Trade CS Nominee Salim Mvurya Reveals Ksh.158 Million Net Worth Trade Cabinet Secretary nominee Salim Mvurya disclosed his net worth to be Ksh.158 million on Saturday during his vetting by the National Assembly’s Committee on Appointments. This disclosure marks a… #CSNominees #KwaleCounty #SalimMvurya >>> Read more

Contract (Part-1) When ever peoples deal among them self they entering into various forms of contract. For example : 1.Sell Contract. 2.Rental Contract. 3.Services Contract. Under Islamic law or as per Islamic Economic principles: contracts can be classified into forms: 1.Compensatory Contract. 2.Non Compensatory Contract. Compensatory Contract: Both parties are entering into a contract of exchange.They are exchanging something. i.e. Sale Contract: A contract of exchange. One party provide the commodity or the product and the other party provide the selling price. So its a contract of exchange. Both parties are taking or earning of something. Rental Contract: Where one party provide fixed asset and in return its rental amount. Where the other party gets the right to use the asset.It is also a contract of exchange. Services Contract: A person who provide a services or gets in employment with the other person and in exchange he gets his service fee or wages or salary. Again it's a contract of exchange. * Non Compensatory is coming Soon*