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NRI Services

For Tax Residents Of Tanzania, Kenya, Uganda, South Africa, Sudan & Ethiopia

FOR TAX RESIDENTS OF TANZANIA, KENYA, UGANDA, SOUTH AFRICA, SUDAN & ETHIOPIA:
NO CAPITAL GAINS TAX ON SALE OF MUTUAL FUNDS AND BONDS/DEBENTURES IN INDIA UNDER DTAA.
PASS THIS MESSAGE TO ALL YOUR FRIENDS AND RELATIVES IN THE ABOVE COUNTRIES.
Under Article 13 of the DTAA (Double Taxation Avoidance Agreement) with the respective countries, capital gains on sale of Mutual Funds (equity oriented or non equity oriented), either short term or long term and also capital gains on sale of all types of bonds/debentures shall be completely tax free in India for persons who are Tax Residents of any of the above country.
The above interpretation of the DTAA has been confirmed by the following judicial decisions:
1. ITO (IT) 2(1) Mumbai vs. Shri Satish Beharilal Raheja ITA NO.4627/Mum/2009
2. The Dy. Commissioner of Income-tax (International Taxation) Kochi vs. Sri.K.E.Faizal ITA No.423/Coch/2018
It has come to our notice that several NRI based in Africa are unaware of this concession.
Kindly contact us in case of any clarification.
Ashutosh NRI services
A division of Ashutosh Financial Services Pvt. Ltd.
Contact us: +91 70435 93388 / nris2@ashutoshfinserv.com
www.ashutoshfinserv.com
Disclaimer: The above facts are based on our interpretation of law. The same should not be relied or acted upon without seeking specific professional advice.
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FACEBOOK, INSTAGRAM, YOUTUBE, TWITTER & LINKEDIN.

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Insurance Services

Covid – 19 Insurance Plan

COVID – 19 INSURANCE PLAN
Different Insurance companies charge different premium at different ages. Contact us for premium for your age.
FEATURES & BENEFITS :-
1) Sum Insured : 50,000 to 5,00,000
2) Policy Term : 105 days / 195 days / 285 days
3) Entry Age : 18 yrs. to 65 yrs. (1 day to 25 yrs depended children can be covered)
4) Policy Type : Individual / Floater
5) Cover Starts : After 15 days (Cover starts after 24 Hrs hospitalization)
6) AAYUSH Treatment covered
7) Homecare treatment covered for 14 days if advised by authorized doctor
8) Pre – Post Expenses : 15 days / 30 days
9) Ambulance expenses : Rs.2000
10) Daily cash : 0.5% of sum insured
11) COVID test expenses allowed
12) PPE kit, Gloves, Mask are covered
13) One can save his current medical policy – No Claim Bonus (NCB) by taking claim via this policy
14) No Pre policy medical Checkup
Ashutosh Insurance Services
A Division of
ASHUTOSH FINANCIAL SERVICES PVT. LTD.
•Investments •Insurance •Income Tax & Estate Planning •NRI Services
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Investment Services View Blogs in Gujarati

સોનાના બજારભાવ કરતા રિઝર્વ બેંક પાસેથી ઓછા ભાવે ગોલ્ડ બોન્ડ ખરીદવાની સુવર્ણ તક – માત્ર બે દિવસ

સોનાના બજારભાવ કરતા રિઝર્વ બેંક પાસેથી ઓછા ભાવે ગોલ્ડ બોન્ડ ખરીદવાની સુવર્ણ તક – માત્ર બે દિવસ

હાલમાં ૧૦ ગ્રામ સોનાની બજારકિંમત  રૂ. ૪૯,૧૨૦/- થયેલ છે તેવા સમયમાં રિઝર્વ બેંક ઓફ ઇન્ડિયા દ્વારા સોવેરિઅન ગોલ્ડ બોન્ડ સ્કીમ અંતર્ગત રૂ. ૪૭૭૧૦/-  (૪૮૫૨૦ – ૫૦૦ ડિસ્કાઉન્ટ) માં ૧૦ ગ્રામના ગોલ્ડ બોન્ડ ની સ્કીમ ઓફર કરવામાં આવેલ છે. રૂ. ૧૪૧૦ નો પ્રત્યેક ૧૦  ગ્રામે સીધો ફાયદો
આ ગોલ્ડ બોન્ડ સ્કીમ ૧૦ જુલાઈ, ૨૦૨૦ ના રોજ બંધ થાય છે એટલે કે આ ભાવ ફક્ત ૧૦ જુલાઈ સુધીજ લાગુ રહેશે.

  • સિરીઝ –IV  તા. ૬ થી ૧૦ જુલાઈ, ૨૦૨૦ ના સમયગાળામાં માં ઉપલબ્ધ થશે.
  • પ્રત્યેક ૧ ગ્રામ ના વજન માં ઉપલબ્ધ છે.
  • ઓનલાઈન ખરીદી પર પ્રત્યેક ૧ ગ્રામે રૂ. ૫૦ નું ડિસ્કાઉન્ટ
  • વ્યાજનો દર: વાર્ષિક ૨.૫%, વ્યાજની ચુકવણી દર ૬ મહિને કરવામાં આવશે.
  • સમયગાળો :  આ રોકાણનો સમયગાળો ૮ વર્ષ નો છે. (નિયત મુદત પહેલા ૫ વર્ષ પછી ઉપાડ કરવાની પરવાનગી)  આ બોન્ડ સ્ટોક એક્સચેન્જ પર કોઈપણ સમયે વેચી શકાય છે.

કરપાત્રતા :
➡️ આ બોન્ડનું વ્યાજ કરપાત્ર છે.
➡️ ૮ વર્ષ બાદ પાકતી મુદતે મળતી રકમ(મૂડી નફો) સંપૂર્ણપણે કરમુક્ત છે.
➡️ આ બોન્ડ 3 વર્ષ પહેલા બજારમાં વેચવામાં આવે તો ટૂંકા ગાળાનો મૂડી નફો ઉદભવશે. 3 વર્ષ બાદ આ બોન્ડ વેચવામાં આવે તો લાંબા ગાળાનો મૂડી નફા (ઇન્ડેક્સેશન લાભ સહીત) ની જવાબદારી થશે.

Ashutosh Investment Advisory
A Division of
ASHUTOSH FINANCIAL SERVICES PVT. LTD.

  • Investments •Insurance •Income Tax & Estate Planning •NRI Services

Mob. No. : +91 93773 35959
Email : relationship@ashutoshfinserv.com
www.ashutoshfinserv.com
Follow us using AshutoshFinserv on:
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Categories
Investment Services

A Golden Opportunity To Buy Gold Bonds From Reserve Bank Of India At A Price Lower Than The Market Price Of Gold.- Only Two Days.

A GOLDEN OPPORTUNITY TO BUY GOLD BONDS FROM RESERVE BANK OF INDIA AT A PRICE LOWER THAN THE MARKET PRICE OF  GOLD.- ONLY TWO DAYS.
At Present, the market price of 10 gms.of gold is Rs. 49,120/- , At that time, the Reserve Bank of India has offered a scheme of 10 gms. gold bonds in Rs. 47,710/-(48520-500 Discount)  under the Sovereign Gold Bond Scheme. Direct benefit of Rs. 1410 per 10 gram.
This Gold Bond Scheme close on 10th July, 2020 this means that the price will only be applicable till 10th july, 2020.

  • Series IV  available between July 06 to 10, 2020.
  • Available in the multiples of 1 gms each.
  • Rs. 50 per 1 gram discount on online purchase
  • Interest rate : 2.5% p.a., paid semi-annually.
  • Tenure : 8 years. (Early withdrawal allowed at 5 years).
  • Can also be sold on the stock  exchange at any time.

Taxation :
➡️   Interest on these bonds is taxable.
➡️   Appreciation (Capital gain) of the amount received on redemption (after 8 years) is tax free.
➡️   Capital gains on sale in the market is liable to Short term Capital Gain (holding below 3 years)/Long term Capital Gain with indexation (holding above 3 years).

Ashutosh Investment Advisory
A Division of
ASHUTOSH FINANCIAL SERVICES PVT. LTD.

  • Investments •Insurance •Income Tax & Estate Planning •NRI Services

Mob. No. : +91 93773 35959
Email : relationship@ashutoshfinserv.com
www.ashutoshfinserv.com
Follow us using AshutoshFinserv on:
FACEBOOKINSTAGRAMYOUTUBETWITTER & LINKEDIN.

Categories
NRI Services

For Canada Tax Residents

FOR CANADA TAX RESIDENTS:
CONCESSIONAL RATE OF TAX IN INDIA OF 15% ON INTEREST INCOMES UNDER DTAA.
Under Article 11 of the India-Canada DTAA (Double Taxation Avoidance Agreement), there is a concessional rate of 15% on interest incomes (including NRO bank account interest) in India for tax residents of Canada. The same shall also be the rate of T.D.S. (withholding tax) in India.
A person is a tax resident of Canada if he stays in Canada for more than 183 days in the calendar year (1st January to 31st December) OR on fulfillment of certain other conditions as per Canadian Law.
The above rates are inclusive of surcharges and cess which is affirmed by the following judicial decisions:
1. Deputy Director of Income-tax (IT)-1(1), Kolkata v. BOC Group Ltd.
2. R.A.K. Ceramics, UAE v. Deputy Commissioner of Income Tax, International Taxation (2), Hyderabad
It has come to our notice that several NRIs based in Canada are unaware of this concession.
Kindly contact us in case of any clarification.
Ashutosh NRI Services
(A division of Ashutosh Financial Services Pvt. Ltd.)
Contact us: +91 70435 93388 / nris2@ashutoshfinserv.com
www.ashutoshfinserv.com
Disclaimer: The above facts are based on our interpretation of law. The same should not be relied or acted upon without seeking specific professional advice.
Follow us using AshutoshFinserv on:
FACEBOOK, INSTAGRAM, YOUTUBE, TWITTER & LINKEDIN.