R Bajaj
17 December 2008 at 10:31
Sir,
We are three brothers and we have decided to build our old house through a builder who has agreed to make a floor for each of us and also give me a sum of money as I will get third floor ( my Brother will get ground floor and first floor respectively).
My Querry:
The money I will get will be shown as what?
Is it income from sale of property?
How will I be taxed for this ammount?
How should I invest it and what documents do I need to produce to declare this as income?
Thanx
Bajaj
rv
14 December 2008 at 18:41
Dear experts,
Father F threw his self acquired house H into HUF in 1978 and showed rental income as HUF income in all tax returns till 2005/6 while the property H continued in his individual name. In August 2004, under pressure from sons S1 and S2, F also gifted the same house H to his sons stating that he was absolute owner of the gifted property H without mentioning HUF. In 2007, daughters D1 and D2 filed a suit for partition of the house H in HC of delhi. As evidence a copy of F's 2005/6 tax return in his capacity as Karta was submitted. The return clearly shows first floor of house H as self occupied and rent from G/F as income. Question 1: Was the gift by F in 2004 valid? 2. Was the property H belonged to HUF as of cut off date for HSA amensment 2005? 3. Do daughters have a good case and what kind of advocate they need ?
RV
Keshav Kumar Saxena
12 December 2008 at 18:40
Dear Sir,
Please let me know whether father of a undivided hindu family can sell land which is in his own name without the consent of his sons who are all adult ?
Rama Verma
12 December 2008 at 15:18
There is one plot in front of our house which is in occupation & possesion of us for last 15 years and we done four boundary to it. Now govt is asking to remove all boundary and give possesion to govt. Please advice.
ram
12 December 2008 at 12:10
1)What is the procidure for changing owner name (Mutation) for particular House in muncipality/gram panchyat etc
2) what are the certificate are requied for verify during the verificaiton of survey number has changed as new re-survey number. who is the authotiry to issue the certifiate of such effect
Shilpa Rani
12 December 2008 at 07:00
can anyone explain me what is Injuction order...
diff between Stay and Injuction order
tamilarasibabu
11 December 2008 at 15:55
Can HUF property be transfered to one of its member with the consent of the other members? kindly suggest the preferable method of transfer and the stamp duty payable kinsly provide the appropriate provision of law
tamilarasibabu
11 December 2008 at 15:55
Can HUF property be transfered to one of its member with the consent of the other members? kindly suggest the preferable method of transfer and the stamp duty payable
Shilpa Rani
10 December 2008 at 15:05
i have got 5 acres of agricultural land ...gifted by my father...and registered on my name recently...i did not see my lands till now coz i stay far away from my lands (in other city)..now i want to dispose those lands only for the reason that i am away and someone may occupy or sell away without my knowledge....i have seen experiences of my father fighting court cases for his lands occupied by his own blood relation relatives...still some are in litigations...some good lawyers from this site has adviced me not to sell them as thier price may increase in future...even if i sell i was told i wont get good price due to indian economic crises....but i am afraid to keep them away from me unattended....coz around my lands some big people lands are there...so i am very much scared that they may occupy my lands or sell away....i cant fight court cases at this stage...
can someone please advice me what shall i do so that my lands are safe ....i have my land documents ( originals recently registered on my name )safely in my locker....i fenced my lands and placed a name board and address.....i was told someone removed everything overnight....please advice me how to deal this problem...
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Fathers property goes to??
Dear every1..
I am writting with a lot of hope..i hope some bright minds from the legal faternity would surely reply back and give some suggestions...
My father died in the year 1991 leaving behind me(a 5 yr old son),my mother and my elder sister(who was 10yrs old back then)...my father had a house in a co-operative hsg society in mumbai in his name..as there was no nominee..so after my fathers death in the year 1991 a appendix 3c was submitted by my mother to the society requesting them to transfer the property in her name..
and for the past 17 years the house has been kept locked as we all live in New Delhi and my grandfather does not let anyone of us go and as he has the keys and all the orignal papers of the house..and as indian joint families are we did not have the courage to disobey him..but in the year 2007 we were informed by the society that the said property is jointly held by my mother and my grandfather..and when the appendix 3c was submitted to the society there was a clause in it which said "as there is no (the NO is then crossed with pen) one more heir Mr (my grandfathers name) who is related as father of the deceased to Mr (my father),his name may also be enroled as Joint name to the membership."
it is this clause made my grandfather the joint member..and we were really shocked when we were told about this in the year 2007 by the society as for the past 17 years it my mother who has been sending all the maintaince charges and all other expenses for the flat..and my granddfather has never spent a single rupee on it..and now when i confronted him 1st he said that as the furniture was mine that is why my name was added as a joint owner,then he changed his statement and said that as he had paid the black money (cash money) for buying the flat that is why he is a joint owner and now he claims that as the owner was his son (my father) hence that is why he is a joint owner..
presently my mother is suffering from a terminal illness and has not much time to live in this beautifull and not so beautifull world..the last and only wish that she has is to have her property back to her name.. i therefore request each knowledgeable member of this forum to reply back to my query as soon as possible before its too late..thanking you..