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Master NDPS 2.0: Latest Legal Developments, Best Practices & Landmark Case Studies

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jagannathansinger   30 January 2015 at 10:52

Iimprovements to a house bought from capital gains account.

Sirs,

2013 August I sold a land property for Rs.90 lakhs which I bought in 1985 for Rs.5000.
Of the Rs.90 lakhs sale realization, the net realization was Rs.87,96,944.00 after deducting the following :

Cost of acquisition with indexation 47,326
Cost of improvement with indexation 65,730
Brokerage for selling the land property 90,000
--------------
Total deduction claimed 2,03,056
Net realization on sale of land property. 87,96,944

I invested in Capital Gain Account before 31.7.2014 the entire amount of Rs.90,00,000/- with Canara Bank, T. Nagar, Chennai.

2014 August I bought a land with house including registration charges for Rs.87,50,000 which I paid out of my CG Account.

In addition, brokerage paid Rs.1,00,000/- to the real estate broker who facilitated the purchase out of my personal account as bank would not pay this from CG account.
Thus total investment was Rs.88,50,000.

The house that I bought required the following improvements to make it habitable (not additional structure, but only improvement to the existing building :

- providing steel protective grills to the doors, balcony, etc.,
- raise the height of the compound wall from 4ft to 5.50’ high.
- build a 2-foot wall to the open well and grill-cover it.
- give a complete painting/white washing, etc.

These cost me around Rs.2,50,000/- but the bank refuses to make payment from my CG Account as according to them improvement expenses cannot form part of the cost of the house purchased.

I was given to understand that cost of improvement/renovating the house is allowed under both Sec 54 and 54F. My bankers say these sections apply only for the construction of a new house and not for the house bought.

I solicit your valuable guidance in this matter so that I can again approach Canara Bank to release payment of the above improvement expenses from my CG Account.

Sincere thanks and regards,
Jagannathan Singer
T. Nagar, Chennai 600017
944 427 9876
ruco@vsnl.com

Arun   30 January 2015 at 10:38

Maternity benefit

Dear Experts,

Is the employee is entitled to claim maternity benefit for 3rd child.

Is there any ceiling for maternity benefits.

REENA   30 January 2015 at 10:05

Matrimonial transfer case haryana to delhi

please advise me that i am widow lady & have two kids 7-5 yrs old, my family arrange second marriage a divorcee man, he live in panipat, & file a case on me on panipat, I m unable to go panipat, for safety & money problem, CAN tranfer this case to delhi court, i hv no knowledge in this matter???

gaurav   30 January 2015 at 09:46

Help !

dear sir ,

i want to open an online website and also become a seller/merchant to popular ebusiness website existing as of now.

i am an individual and do not have any shop or trade license.

i would like to ask what are the legal formalities that should be considered before starting one.

also as i would want to be a retailer do i need trade license/brand name for selling my product like products sold by "XYZ COLLECTIONS ?" as i do not have any shop what will be the address while filing trade license if required


PLZ GUIDE.

abhishek dubey   30 January 2015 at 07:59

acceptance of non cts cheque by local sbi branch

Sir recently the sbi branch in our town has closed its local clearing house.since then they are not accepting non cts cheque.as per my knowledge they cant decline to accept non cts cheques.please confirm whether any Rbi notification has permitted them to decline

Ramesh panwar   30 January 2015 at 01:24

motor accident claim

A claim petition of a injured, 70 % disable person filed at place of accident , very far from his residence, by misguiding him. How to withdraw that mact claim petition to file it at another court near to caimant residence.
Transfer petition will b time consuming.
Is order 23 rule 3 cpc application can be considered by tribunal. Any other faster remedy?

Ramesh panwar   30 January 2015 at 01:21

motor accident claim

A claim petition of a injured, 70 % disable person filed at place of accident , very far from his residence, by misguiding him. How to withdraw that mact claim petition to file it at another court near to caimant residence.
Transfer petition will b time consuming.
Is order 23 rule 3 cpc application can be considered by tribunal. Any other faster remedy?

sajib   30 January 2015 at 00:12

Law

lawyers

rajesh   29 January 2015 at 23:39

How to practice criminal laws without being a law student

I am an Engineer by profession. I wish to pursue something in law so that I may practice criminal law in High and district courts. Is it possible in short term. I am 33. No law background. I want to practice law as my second profession. Pls guide me the fastest method.

rishabh   29 January 2015 at 23:01

Forgery

Hi all
I've following query

When my elder brother's marriage was registered under Hindu Marriage Act, his mother-in-law was not physically present for the purpose of registration of the marriage. Instead another woman, a colleague of my father, signed on her behalf. Now someone, who had a personal enmity with my father, has registered a case against:
1. My father,
2. brother,
3. sister-in-law
4. The lady who signed the registration document & photographed as my brother's mother-in-law and
5. two witness of the marriage, (they were namberdars)
of forgery and impersonation under sections
419, 420, 465, 467, 468, 471, 120B.

My queries are:
1. My father is deceased. Can the litigant now take back the case (saying he is not aggrieved any more as he had enmity only with my father). Does this amount to compounding of offense?

The litigant has expressed his desire to do so. He was summoned once before the court, and when appearing before the court, he made statement of his intent to withdraw the case. Since we (my brother or the lady) had not received the summons we were not present in court. The judge asked him to submit proof of death. If we produce the death certificate before the court, is it possible that the judge might allow him to take back the case?


2. Does this act classify as forgery? or only impersonation? or both?

3. Can bail be availed?

4. If the litigant can't take back the case, what is the best way forward, to minimize the damage.

The marriage occurred with full consent of my sister-in-law's family and they have no objection. The only reason this happened was that my brother required the registration certificate urgently and his mother-in-law was out of city at that time. There was no intent to cheat anyone or to commit any fraud related to property or other valuable security.
The litigant is just trying to settle personal score and has not been personally harmed in any manner through this act.

Please suggest the best way forward. I'll value your advice. Thanks in advance.