Capital gain and tax
Suri Kam singh
(Querist) 29 November 2014
This query is : Resolved
I got married with undivorced married female without seeing her divorce papers,
In due course of time,( bcos mistake was made) I did not want to b cruel to her, so I started new life with her and bought one flat 2BHK and one shop in My name as first purchaser and her name as second purchaser, although she did not contributr a sinle Re to acquire these properties and these properties are being shown in my IT returns.Now she is changing her colors. My question is: If WE sell any of these properties, How do we get the Cheque from buyer, Wheather one cheque on my name, or one each in name of each of us with 50% of the amount, How will the IT will be paid,
Can she take cheque of 50% of proceeds,than how she is going to show?
Pls. let me know my liabilities as for Tax, Rgds
Dr J C Vashista
(Expert) 30 November 2014
@ Surinder Singh Kambow,
1. What do you mean by the words "bcos", "b" "contributr" "sinle" "re"since I could find in any of the available English dictionary.
2. Moreover, you are on the platform of legal experts, what do expect from them for the charitable advise rendered to you??
Guest
(Expert) 30 November 2014
Marriage with a Married Woman who had Not Divorced is Illegal and Adultery.Regarding the other Issues She is Joint Owner and have 50% rights and 50% of Payments Received should be in her Favour.Regarding IT issues it would be her own problem she could sort it out her self with the help of Auditors.Remember Her Husband Could legally sue you for Adultery and this is the result of misusing Other Man's.
Rajendra K Goyal
(Expert) 30 November 2014
You have done illegal act by marrying a married lady. She or her first husband can put you in troubles.
She is joint owner of the property. Better have amicable settlement with her and sell out the property.
After sale proceeds received, consult tax consultant. Receive cheque of her share in her name.
T. Kalaiselvan, Advocate
(Expert) 03 December 2014
Well advised by experts, if she is receiving 50%share, it is her problem to take care of her IT issues, why do you worry about it? You have made bundle of blunder mistakes by marrying her despite knowing that her subsisting marriage, bought properties jointly involving her name in the property,what is the use of crying now?
