Passing on the assets of a person after his/her death, involves several critical issues, especially if it involves the inheritance of property. Therefore, it is important to understand the various inheritance laws, to avoid … READ FULL STORY
Efficient succession planning is very important to ensure that your hard-earned wealth reaches the right people. This is more important in the case of immovable property as the legal succession of such assets is … READ FULL STORY
A person is taxed on the income earned by him. This income may be active income, in the form of salaries or income from business. It may also be passive income, like capital gains … READ FULL STORY
Acquisition of immovable property by a minor A minor can acquire an immovable in various ways. He can acquire it by way of inheritance, either through a will or through the intestate succession law … READ FULL STORY
Types of properties that can be inherited in India, by NRIs A non-resident Indian (NRI) or person of Indian origin (PIO), can inherit any immovable property in India, whether it is residential or commercial. … READ FULL STORY
The reply to a question raised in the Indian parliament revealed that deposits worth Rs 5,124.98 crores were lying unclaimed for 10 years or more, with scheduled banks. This is a huge amount, considering … READ FULL STORY
‘Capital gains’ is one of the income heads, under the Indian tax laws. Any profit from the sale of a capital asset, is taxed under the head ‘capital gains’. Holding period as the basis … READ FULL STORY
Many home buyers are often confused when it comes to understanding the applicability of long-term capital gains (LTCG) tax, when they sell a property. Let us check out five important things related to LTCG … READ FULL STORY
A marriage of a Hindu woman with a Muslim man is not ‘regular or valid’ but the child born out of such wedlock is legitimate, the Supreme Court has held, on January 22, 2019. … READ FULL STORY
Proper succession planning is very important to ensure that the assets owned by you, including any house property, are properly inherited by the people to whom you want these to be passed on to. … READ FULL STORY
There is considerable confusion over the taxes applicable on the sale of an inherited property. While many think that the money received on sale of an inherited house is fully tax exempt, others feel … READ FULL STORY
Concept of Hindu Undivided Family (HUF) and ancestral property Hindus have a peculiar concept of ancestral and personal ownership of assets. Although they do not follow the Hindu religion, Jains, Sikhs and Buddhists are … READ FULL STORY
The Law Commission issued a consultation paper on the ‘Reform of Family Laws’, on August 31, 2018. In it, the Law Commission has recommended for the abolition of the Hindu Undivided Family (HUF) as … READ FULL STORY
