A 1031 exchange is a great tool for investors who want to avoid paying tax on the gain from the sale of real estate; however, in order to completely defer the tax, an investor must: Find one or more “like-kind” replacement properties with a total fair market value that equals or exceeds what is being … Read more
Credit counseling agencies follow different debt consolidation programs. All programs or plans are directed to make one debt free in less time. Chief concerns of credit counseling companies are: Debt settlement Most of debt consolidation agencies come featured with experienced counselors. Such counselors work in a systematic manner to help the clients. Debt settlement procedures … Read more
While everybody appreciates the legislative intention behind enacting special legislations like RDDB Act, 1993 and SARFAESI Act, 2002, when it comes to the sale of mortgaged property through auction, many interesting points would emerge for consideration. If it is a sale of mortgaged property pursuant to the Recovery Certificate issued by the Debt Recovery Tribunal … Read more
The 1031 exchange is a great instrument for property owners who wish to defer their capital gains tax. However, not all states treat 1031 exchanges equally. California regulations stipulate that any appreciation in property value accrued in California is subject to their state taxes, regardless of whether or not that property was exchanged for … Read more
Change in Rate of Service Tax on Money Changers Prepared By: CA Pradeep Jain And Sukhvinder Kaur, LLB[FYIC] With effect from 16.05.2008, the services pertaining to purchase or sale of foreign currency, including money changing was brought under service tax. The authorised dealers in foreign exchange or authorized changers were also covered. The … Read more