RAJESH CHOUDHARY
27 June 2012 at 17:16
Dear all,
Me(A) and my Mother(B) are partners in a partnership firm (not registered) running a business of plantations.
Both (A) and (B) have demands raised on them by the Income Tax for a particular year.
NOW:
We wish to protect the property first.
We have transferred our interests in partnership firm to 2 different individuals on 1st April 2011 (before the demands were raised in december, 2011), and going to file return in their names as partners of the firm.
We need to now get back the interest in partnership in our family again. I was thinking of creating an HUF in current date under me (A) and reviving my deceased father's HUF wherein my mother(B) and me would be there.
These two HUFs will supposedly hold 50:50 shares in a newly formed Pvt Ltd Co. in current date. This company will buy the partnership interests from the other partners and therefore the business comes to us again.
Is the process fine enough? If we do this, can our interests in the HUFs be attached by creditors such as ITdept for demands raised in our (A) and (B)'s PERSONAL FILES?? Or they cannot harm us in any manner being part of the HUFs??
Was also thinking of creating a family trust wherein the 2 HUFs are beneficieries and this trust holds the shares in the new company. POSSIBLE??
A quick response would be nice.
Thanks.
Vikas Verma
26 June 2012 at 19:54
sir i was born in madhya pradesh . my dad is migrated from uttar pradesh to m p at 1992. i wanted information about how can i access a caste certificate from madhya pradesh
zoheb.khan
26 June 2012 at 16:28
hello i am a law fresh graduate
and i am looking forward to attempt Judicial exam for JMFC.
my question is as to which other Judicial exams an advocate can attempt in his life time and what is the age limit and minimum period of practice required for it .
SHAMIDEEP
26 June 2012 at 07:15
If someone gives better written exam but get lesser marks it is easy to challenge the answer sheet & get the justice . But in case of viva/interview if any teacher becomes revengeful for some personal rivalry & gives anyone least marks intentionally ,is there any legal way out?
devashree
24 June 2012 at 21:38
I have just secured admission into Government law college,mumbai for the first year of the Bls,Llb course and i was wondering weather i could do CS or any other course along with law?which other courses are available?I want to keep my main focus on law and work in a law firm from my 3 rd year so any course i do must get over within 2 years...please suggest some good courses.
Pratik
24 June 2012 at 20:34
can anyone tll me wht is the cut-off % for governt. law college(GLC).plz thnks in advce
anil sharma
24 June 2012 at 17:22
respected sir,
I want to ask two question for my knowledge that after sining vakaalatnaama by a client, what is the important of that, for client and his/her advocate, can client get certified copy, by coping agency of the court,
please reply me with complete detail
02 how can my client re-open his father case after 40 years of decided, that was property suit for partition
THANK YOU VERY MUCH SIR
ANIL SHARMA
shanthi
24 June 2012 at 15:51
If Nationalised Bank goes bankrupt then will i get back all my deposits.
Are the deposits in nationalised insured?
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Please reply experts
Dear all,
Me(A) and my Mother(B) are partners in a partnership firm (not registered) running a business of plantations.
Both (A) and (B) have demands raised on them by the Income Tax for a particular year.
NOW:
We wish to protect the property first.
We have transferred our interests in partnership firm to 2 different individuals on 1st April 2011 (before the demands were raised in december, 2011), and going to file return in their names as partners of the firm.
We need to now get back the interest in partnership in our family again. I was thinking of creating an HUF in current date under me (A) and reviving my deceased father's HUF wherein my mother(B) and me would be there.
These two HUFs will supposedly hold 50:50 shares in a newly formed Pvt Ltd Co. in current date. This company will buy the partnership interests from the other partners and therefore the business comes to us again.
Is the process fine enough? If we do this, can our interests in the HUFs be attached by creditors such as ITdept for demands raised in our (A) and (B)'s PERSONAL FILES?? Or they cannot harm us in any manner being part of the HUFs??
Was also thinking of creating a family trust wherein the 2 HUFs are beneficieries and this trust holds the shares in the new company. POSSIBLE??
A quick response would be nice.
Thanks.