Foreign direct investment
SAJU MATHEWS
(Querist) 01 January 2018
This query is : Resolved
Sir
I saju Mathews ,I had two brothers one is citizen in Canada another is residing at canada with PR (Indian citizen)
My father is 85 years old man .
My brother Canadian citizen send vide RTGS Rs. fifty Lakh to my father's name ( Account transfer) with that amount he purchased 5 acers of plantation in Kerala in his name documentation was over .Now my brother requesting my father to write a will for the above said property . All the transactions waew made in December 2017 .
1, If any legal problem/Questions/violation of any rules of India ? ( Plz give Rule and Section )
2,.How long he wait for preparing a will ?
3, The above said transactions were with the advice of my brother's advocate ?
4, The advice of my brother advocate is correct ?
I humble request me to give a detailed legal advice to my father he is suffering lungs problem taking oxygen for 24 hours .
Thanking You
saju Mathews
Vijay Raj Mahajan
(Expert) 02 January 2018
Yes this is absolutely legal transaction done in the name of your father who is resident of India. The money was paid from his bank account irrespective of who had given it to him, it was simple case of gift to father given by son and out of this fund he purchased agricultural land in his name.
Secondly, the father can make Will anytime of all his property he owns including this recently purchased property in favour of any of his heirs/sons or relatives as he so desire and the beneficiary will get his property on his death by getting the Will probated from the Civil Court. There is no legal bar for making Will by your father.
The advocate of your brother is right and sensible one like me providing correct legal advices only to everyone.
Adv. Yogen Kakade
(Expert) 02 January 2018
Your father can execute a will any time and number of times.
No one can force him as to what to mention in the will, he can transfer the properties owned by him to any person after his death with the help of the will.
Considering the age of your father a certificate issued by doctor shall be necessary and presence of two plus witnesses.
Adv. Yogen Kakade
Jurycon Incorporation (Advocates & Consultants)
Email: juryconincorporation@gmail.com
Web: www.juryconn.in Phone: 020-65248888 / 09225510883
N.K.Assumi
(Expert) 02 January 2018
Agree with the experts opinions and nothing to add.
Kumar Doab
(Expert) 02 January 2018
The father can execute a valid WILL.
Consider the provisions of personal law that applies in your case.
Preferably register the WILL.
And it shall be better if the medical specialists preferably a Psychiatrist in Govt hospital certifies that yor father is of sound mental health.
Kumar Doab
(Expert) 02 January 2018
The WILL can be contested by Legal heirs and persons having some stake/interest in estate being disposed by a valid WILL and not by a stranger.
In case there is NO dispute amongst legal heirs now and in future, then there should be NO difficulty.
The legal heirs may sign as witness to WILL.
Or you may ask your own senior LOCAL counsel(s) of unshakable repute and integrity specializing in such/succession/testamentary matters and having a successful track record in such matters………… on other perspectives e.g; settlement deed with life rights….
Hemant Agarwal
(Expert) 03 January 2018
INTROSPECT ON THIS:
1. Canadian Brother sent money to Father in India. FOR WHAT PURPOSE ????
a) As a Loan ?
b) As a Gift ?
c) As Parental Expenditure or as Medical Expenditure or as WHAT ????
d) As money transferred for specific purpose of buying Land ?
2. Did the father show receipt of the 50 Lakh, in his Income Tax Return (as Loan or as Gift or as what)
3. If the 50 Lakh is NOT shown in the Fathers Income Tax Returns, THEN he has evaded Income Tax @ 33.33% plus Penalty plus Interest.
4. If the 50 Lakh is not shown in the Fathers Income Tax Returns, THEN the Father "CANNOT" make a will of the undeclared & non-receipted Income. If the receipted amount is shown as GIFT, THEN Father can make a Will, (anytime) favoring ANYBODY, without any reference, whatsoever, to any of his legal heirs or non-legal heirs.
5. IF Money is shown as Loan from Son .OR. Son's money for buying Land, in Fathers Tax Returns, THEN this Son, shall have sole & perpetual right over the Land, irrespective of name on Land Purchase document. As far as brother's advocates advise is concerned, it is a knee-jerk myopic advise.
6. Several other parameters are involved, under the Indian Laws and the local Canadian Laws.
Keep Smiling .... Hemant Agarwal
Kumar Doab
(Expert) 03 January 2018
By now you must have realized that it is shall be appropriate and in your interest to respond to the points raised by Mr. Hemant Agarwal in his precise and concise posts.
