You are here: Home >> English News & Features >> Business & Economy

Taxpayers with reverse mortgage loan get I-T benefit

DNMUM425771 | 11/8/2018 | Author : Chirag Nangia | WC :251

Ask the Expert Personal Tax
Personal Finance

I am currently working in India. Since I have got admission for MBA in Singapore I will be moving there soon. Can I continue to contribute to my PPF in India or should I close it? What will be the tax implications? The account is two years old. I had opened it when I started working. —Hrishikesh Khanvilkar
As per the prevailing laws, a person whose residential status changes from Resident Indian to non-resident Indian is allowed to continue his PPF account till its maturity. 
Though, the situation may change as the government in 2017 had issued a notification which provided that PPF account opened by a resident who subsequently turns to non-resident, shall deem to be closed from the date of change of residential status fr
Read full story



Copyright restricted. Under license from www.dnasyndication.com   
Add To Lightbox
Calculate Price

More on Business & Economy

After third phase of polls, bulls back with 490-pt bang
DNMUM435428 | 4/25/2019 12:00:00 AM | Author : DNA Money Correspondent | WC :397

Mumbai: After a three-day losing streak, domestic stock markets ended on a higher note on Wednesday, pushed by strong buying interest seen in banking, financial services, IT and energy stocks in late afternoon deals.S&P BSE Sensex rose 489.80 poi
Add To LightboxCalculate Price

‘We have real estate inventory of `4,600 crore’
DNMUM435429 | 4/25/2019 12:00:00 AM | Author : Swati Khandelwal | WC :445

Mahindra Lifespace Developers profits have declined due to the changed accounting norms as it has changed the way the financial statements are reported. Sangeeta Prasad, MD and CEO, in a chat with Swati Khandelwal said the new norms mandate that reve
Add To LightboxCalculate Price

Boardroom: When and how to speak
DNMUM435430 | 4/25/2019 12:00:00 AM | Author : Rama Moondra | WC :724

The genesis of this column lies in two incidents that happened back-to-back. A leading non-banking finance company contacted me for training their employees on Boardroom confidence and presentability. “...if you can tell them that it is not a wedding
Add To LightboxCalculate Price

Rupee may slip below 70/ dollar soon
DNMUM435468 | 4/25/2019 12:00:00 AM | Author : Edit | WC :231

Rupee is all set to fall below 70 per US dollar. A day after the successful dollar-rupee swap auction, the second in as many months, the rupee is looking a tad fragile again. The rising crude and the subsequent fear of inflation creeping back have ca
Add To LightboxCalculate Price