When an individual who has a loan on him passes away with an outstanding amount, it raises several critical questions about the repayment of such debt along with the future course of responsibility for clearing the pending amount. That is why understanding the financial and legal consequences about debt repayment post the demise of an … Read more
Can I buy two residential house properties to claim exemption on long-term capital gains from the sale of one house? Can I buy two house properties in the joint names of self and other family members to claim an exemption for long-term capital gains from the sale of one residential house property held for 20 … Read more
Why is it important to plan the division of an estate in detail? -Name witheld Assessing assets and liabilities A comprehensive estate plan enables the efficient distribution of wealth. By clearly defining how assets will be allocated, individuals can prevent disputes among beneficiaries and ensure their wishes are honored. Read this | A basic will … Read more
Receiving an inheritance can be complex, especially if it involves cross-border transfers. Diya (name changed), a 60-year-old woman, found herself in a difficult situation when her father passed away in February 2023. She had dual US and Norway citizenship and an Overseas Citizen of India (OCI) card, and had been living in Norway with her … Read more