Dilzer Consultants - Investments and Financial Planning

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Investors should always keep in mind that the most important metric is not the returns achieved but the returns weighed against the risks incurred. Ultimately, nothing should be more important to investors than the ability to sleep soundly at night.

~ Seth Klarman

Dilshad is by far, amongst the best investment consultant and advisor I have met. Extremely competent, well -informed, transparent and customer-need focussed, her interaction style makes all the difference.

Dilshad has the rare ability to assess the perfect mix of investment options depending on each individiuals requirement and vision, all with a professional yet friendly approach.

I would recommend Dilshad's services to anyone who is seeking sensible, well- informed investment advice while enjoying the benefits of being serviced by a super efficient and adaptive thinking investment consultan whose prime focus is in ensuring growth, stability and relevancy for your investment mix.

~ Suraj Hattangadi

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Taxation of Property for NRIs

31 Aug 2015

The taxation of an individual is dependent on the residential status, which in turn is dependent on the presence of the individual in India.

The residential status of an individual in India is classified as under-

  1. Resident in India-
  2. a) Resident and ordinarily a resident (ROR)
  3. b) Resident but not ordinarily a resident (RNOR)
  4. Non Resident in India – An individual is treated as a resident in India if any one of the following conditions are satisfied-
  5. a) Individual’s stay in India is 182 days or more in the financial year

OR

  1. b) Individuals stay in India is 60 days or more in the relevant tax year AND 365 days or more in total; in the 4 years immediately preceding the tax year for which the residential status is determined. If none of the above conditions is fulfilled, the individual is said to be a Non Resident.

A resident individual is treated as Resident Not Ordinarily a Resident – (RNOR) in India, if he satisfies ANY of the following conditions:

  1. a) The Individual is resident in India, at least 9 out of 10 years preceding the tax year in which the residential status is determined.

OR

  1. b) The individual is physically present in India for 729 days or less during 7 tax years preceding the tax year for which residential status is determined. A resident individual not satisfying the above condition is said to be Resident and Ordinarily a Resident -(ROR)

In case an individual is ROR in India, in a given tax year, he is taxed on his worldwide income in India. However, if the individual is also a resident of another country, and the two countries have a double taxation Avoidance Agreement (DTAA) signed, then the residential status will be decided as per the netting effect of the relevant countries laws.

When an NRI sells property in India, the taxation on capital gains is the same as applicable to Resident Individuals (Short term 3 years with indexation benefit) The only difference being, that the buyer is liable to deduct TDS at 20% if the property sold is held for more than 3 years and 30% if the property sold is held for less than 3 years. Exemption under Sec 54 of the Income Tax Act is applicable to NRIs also.

Sale of house property after three years, enables the NRI to benefit from Sec 54 rule of investing only the capital gains portion in another property within 1 year from the date of sale or two years before the date of sale, or construction of a house 3 years from the date of sale of current property.

Budget 2015-16 has clarified that the sale proceeds must be utilised to purchase the property in India only (not outside) and the exemption is allowed for purchase/ construction of ONE house property only, from the sale proceeds.

Remittance of sale proceeds amount can also be repatriated by the NRI upto 1 million USD in a calendar year and for a maximum of 2 properties. NRIs/ PIOs are not allowed to invest in agricultural land, farmhouse and plantation land in India. NRIs/ PIOs can freely acquire immovable property by way of gift and inheritance except for agricultural land.

Sale of property outside India, for example in UK, would be subject to capital gains based on the residential status of the individual in the relevant FY when property is sold and immediate preceding seven financial years to determine whether the individual is ROR or RNOR.

In case the individual qualifies as NR or RNOR in the relevant financial year of sale of property in the UK, the gains arising from sale of property will not be taxed in India, provided the amount remains in the overseas bank account. If the sale proceeds are deposited in the Indian bank account, then it would be taxable in India. A point to note – mere remittance of funds from overseas bank account to Indian bank account does not attract tax implication in India. However, if you are Ordinarily a resident of India, that is, you have stayed in India, for more than 729 days in the preceding 7 years, relevant to current Financial year, then global income shall be taxable in India, irrespective of source of place.

Therefore, the gains arising from sale of property in the UK would be subject to tax in India with benefits available under the DTAA between India and UK.

The capital gains amount can be reinvested in another property or specified bonds as per Sec 54 of the Income Tax Act. The balance amount of long term capital gains for ROR’s will be subject to tax at 20.6 % assuming income exceeds basic tax exemption limit.

Disclosure of assets, immovable property and bank accounts held by Resident and Ordinarily a Resident, is mandatory in the Income tax filing.

Dilshad is a member of The Financial Planners’ Guild , India ( FPGI ). FPGI is an association of Practicing Certified Financial Planners to create awareness about Financial Planning among the public, promote professional excellence and ensure high quality practice standards.

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Testimonials

“Dilshad has a very proactive approach. Her calm and soft demeanor is definitely an asset. I would definitely recommend her for her business sense and other valuable attributes.”...
“Trusting one\'s investments with a financial planner is always a tricky choice - My investment choices were haphazard - to say the least - till I met Dilshad. Over last 5+ years, I have received a candid advise from her She is mild mannered - but well read in her field of business. Very sensitive ...
“Dilshad is a thorough Professional. She has a good knowledge of the market. Advises suitably for one\'s financial investments. She has been a very good help in my Financial Planning.”...
It was nice meeting you today regarding the discussion we had. Your suggestions had helped us to see the things in a better way through all the clutter and has made it easier for us to take certain decisions. We really appreciate your approach of listening to your clients, guiding them towards thei...
I would like to express my appreciation for the thoughtful financial guidance I received from you. As a military family pensioner, I was not sure how to allocate my pension fund for my needs. Your sound advice eased my anxiety by clarifying my financial position with regard to my savings, expenses a...
“Dilshad is a very knowledgeable and talented financial adviser. Dilshad offered wonderful personalized financial investment advise and assistance. She guided me whenever I called her with a financial problem. Shares, insurance, mutual funds, and whatever financial product it may be, she will be t...
“Dilshad is intelligent,highly focused,to the point and always ahead of time in term of her financial advisory and makes your feel involved & comfortable to take decisions with her elegant charm & personality. She always stands by you & facilitates right decisions with her pulse of mar...
\"Dilshad has always given great advice. she is very professional and on time. She always talks sense. would recommend her to anyone.\"\r\nService Category: Finacial Advisor\r\nYear first hired: 2005 (hired more than once)\r\nTop Qualities: Expert, Good Value, High Integrity...
\"Dilshad is a meticulous, diligent and highly efficient Financial Planner. She is extremely knowledgable about all financial aspects and developments. The service she has provided us has been consistently good and useful. It also helps that she is easily accessable for any query.\"...
\"Dilshad has been handling my financial planning for a few years now. I find that she brings in the right blend of professionalism, interest in my well-being and financial health to the job. She made it a point, over many discussion, to understand my goals, my status and requirements without being a...
\"I have known Dilshad for over 7 years and has been managing my investments and providing finacial advice to me. She is extremely thorough in her work and understands the clients requirement very well before giving advice. She is very well informed on her subject and provides service very appropriat...
“I know Dilshad professionally (my financial advisor ) for the past 6 years. I always trust her recommendations and instincts.”...
\"I know Dilshad for over 11 years and she is the one who is guiding me in all my financial investments. Her versatility about the market gives her that competitive edge... I would say she is very genuine...thinks in line with the client requirement…approaches the business in a very professional wa...
\"Dilshad has a good understanding of the markets, and her recommendations are pragmatic, reasonably safe, and I always get the feeling that they are what she would do herself. Her office has been extremely supportive of the follow-throughs with different Financial Institutions. I think at the end of...
I have known Dilshad since 1984 through his father who was not only professionally connected, but also we lived as neighbors.\n\nDilshad has been a brilliant person right from her school/college days. She has been carrying out the Financial Advisory Service assignment that she took after her studies i...
“Dilshad is by far, amongst the best investment consultant and advisor I have met. Extremely competent, well -informed, transparent and customer-need focussed, her interaction style makes all the difference. Dilshad has the rare ability to assess the perfect mix of investment options depending on ...
“I have been investing with Dilshad for well over 5 years now. My experience suggests that Dilshad is a very good financial advisor for people with long term investing aspirations and very little time to investigate Mutual Funds, track them & do other associated paperwork. Every fund recommend...
We have used Dilshad\'s services over the last one year and have been very happy with the outcomes. I have found her to be very professional and thorough in her approach, she makes time to fully explain the details when ever I have had any questions or needed clarity on any of her recommendations. Sh...
Dilshad is a through professional and a true leader in her field of financial consulting. I have been working with her last 5 years and truly impressed with her depth of knowledge both for mutual funds and investment market at a macro level. She meticulously works with her clients to help them move ...
\"I have been taking her support in Financial services in Mutual funds and Insurance for the last 13 years. She has responded very well to my needs and taken good care of the investments.She is so good that I continue to use her support.\"...
Dilshad is a brilliant professional. Her promptness at expediting work issues is worth recommending. I would recommend her professionalism to whoever appreciates hard work with intelligent knowledge at financial planning.\r\n\r\nFebruary 20, 2013, Firdaus was Dilshad\'s client\r\n\r\nAircraft Maintenance Eng...
I had done a few planning exercises in the past, where the consultant had taken my inputs on my goals and the timelines. This was the first time that the the data gathering exercise was so comprehensive. Just going through the process forced me to clear my thinking about my objectives, and also brou...
\"Dilshad has been extremely watchful about my investment portfolio into MFs and has always been recommending necessary changes only if and when needed, in my best interest. Extremely dedicated and self driven to help safe-guard the interests of her clients. Very professional in her work.\"\nNovember 3...
\"Dilshad is an expert financial planner who has an eye for detail and is very personable. She take meticulous care of the requirements and is extremely competent in her financial planning skill. Having known her for the last ten years I have no hesitation in recommending her and her team at all.\"...
Dilshad is an excellent financial planner - I appreciate the personalised attention, she\'s always available to assist and explain the finer points of planning that I often miss. I also appreciate the frequent information she gives us through mailers. Helps make informed choices.  Thanks Dilshad!...
\"Dilshad is a sincere, hard working lady, who gives great importance to my queries, helps me out in my financial planning, thereby give good valuable advise in my finance managment\"...
For over a decade now Dilshad has been my Investment Consultant guiding me on my investments, especially Mutual Funds. I have followed her sound advice and acted on her timely inputs provided thru regular updates, alerts and newsletters and watched my investments grow at a steady and healthy pace. S...
“I am yet to come across a more thorough professional thatn Dilshad....and her knowledge of the financial markets is exceptional. Her insights are valuable, and she makes sure that your money is treated the same way as she would treat hers....
\"Dilshad has been our family financial advisor for several years now – and we have been satisfied clients\nHer detailed retirement planning has been valuable in understanding investing for long term.\nWe’ve also benefited from her advice on diversifying investments across various categories.\nDilsh...
\"I have known Dilshad since 1984 through his father who was not only professionally connected, but also we lived as neighbors. Dilshad has been a brilliant person right from her school/college days. She has been carrying out the Financial Advisory Service assignment that she took after her studies i...
Dilshad is a committed professional who works with her clients to help them meet their goals. Her investment in improving her skill sets to service her clients better gives one the confidence of being in good and safe hands. She has her ears to the ground and provides sound and balanced advise to he...

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