aravind hosamani 13 January 2023

ancestral or self property

Hi sir/madum i was started trading in stock market.i lived in joint family and have a ancestral property and i have one brother. i was received 20gram gold from my wifes home. i was sell this gold and got approx 1 lack and started trading for this money. the profit after trading is it comes under self acquired property? and whats the proof for that 1lack as self property.if anything problems happens on property dividing time. how can i prove the initial 1lack is mine.

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Quick Summary

This discussion clarifies the distinction between ancestral and self-acquired property, particularly concerning profits made from stock market trading. The consensus is that profits derived from selling personal assets, like gold received from a wife's family, are considered self-acquired. It also touches upon the importance of proving the origin of these funds, especially in cases of property division, and notes that ancestral property typically refers to immovable assets.