E-PaperRelative News
HRA exemption on rent paid to relative may be prone to scrutiny
HRA exemption is not available if the house occupied by you is owned by you or you have not actually incurred expenditure on payment of rent towards the houseIt should be noted that rental payments to relatives may be prone to scrutiny and the genuineness of the HRA exemption can be questioned
1 min read5 May 2019Opinion | The cruel joys and casual miseries of family reunions
Relatives are a compendium of life-lessons in disguise. We learn retrospectively from one set of them and then practise our new skills on the next lot
4 min read27 Oct 2018Gifting property to a relative is cost-effective
The property can either be transferred to you upon your sister's demise in her Will or transferred to you during her lifetime under any of the other modes of transfer, which in the instant case could be by a gift deed
1 min read3 Oct 2018Amount received as gift by any blood relative living in US is not taxable in India
Any amount up to $5.6 million given as gift is not taxable in the US, even if it is gifted to parents living in India
3 min read24 Jul 2018No tax on property gifted by grandparent
It would be prudent to document the gift in a legal document viz. a gift deed and place it in your records
2 min read23 Jul 2018Arvind Kejriwal’s kin arrested in PWD scam
Vinay Bansal, son of Arvind Kejriwal's brother-in-law, was arrested on Thursday morning from his residence in north west Delhi's Pitampura area, a senior official said
2 min read10 May 2018You can gift up to $250,000 to close relatives staying abroad
Remittances outside India in the nature of gifts or for maintenance of close relatives abroad are permitted transactions under the Liberalised Remittance Scheme
2 min read12 Dec 2017Did you know: when gifts of monetary value are not taxed
Normally, when you receive gifts they are taxable in your hands. However, there are several situations when you do not have to pay any tax on the gifts you receive
2 min read20 Nov 2017Donald Trump loses appeal on relatives covered by travel ban
Donald Trump loses appeal on his embattled travel ban, with the appeals panel leaving in a lower-court ruling that forces the administration to accept people with relatives in the US
2 min read8 Sep 2017Govt may expand definition of ‘near relatives’ in bid to check organ trade
The health ministry is considering the inclusion of stepparents, step-siblings and extended family members in the definition of 'near relatives'
2 min read25 Aug 2017Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared