CA Vishal SharmaChartered Accountant

Practical tax guidance

Collect the right facts before relying on a calculation

Short preparation guides for two questions where dates, documents and eligibility conditions can materially change the answer.

Residential status guideCapital gains checklist

Guide 01

Indian income-tax residential status

Residential status is determined separately for each tax year. A passport label, visa, citizenship or the location of a bank account does not by itself settle the income-tax result.

Information to prepare

  • Exact arrival and departure dates for the relevant year.
  • Days in India during the required earlier years.
  • Citizenship and, where relevant, Person of Indian Origin status.
  • Whether the trip was a visit or connected with employment or ship crew.
  • Relevant Indian income and whether you are liable to tax in another country.
  • Residential status in earlier years for the ROR/RNOR review.

Separate questions

Income-tax residence, FEMA residence and residence under a Double Taxation Avoidance Agreement are different legal questions. A result under one framework should not automatically be used for another.

Use the Residential Status Calculator for a structured first assessment, then review uncertain facts professionally.

Checklist 02

Property capital gains

A useful capital-gains review starts with the transaction history—not merely the sale price and original purchase price.

Documents and figures to keep ready

  • Purchase, inheritance or gift documents and the relevant acquisition dates.
  • Previous owner’s documents where the property was inherited or gifted.
  • Sale deed, transfer date and stamp-duty value.
  • Eligible transfer expenses supported by evidence.
  • Improvement invoices and dates.
  • 1 April 2001 valuation and supporting stamp value where relevant.
  • Details and timelines for any proposed exemption investment.
  • Other income, losses and taxpayer category for the final tax computation.

Exemption eligibility, caps, ownership conditions, timelines, surcharge, cess and loss adjustment may need a wider review beyond an indicative calculator.

Use the Capital Gains Calculator to organise the first computation and print the result for discussion.
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