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HUF ANCESTRAL LAND
Supreme Court suggests mediation to settle dispute in Bharat Forge promoter familyThe Supreme Court has proposed mediation for the Kalyani siblings to settle their extensive family dispute over ancestral wealth and compan...- Karta uses personal funds and ancestral income to buy property: Who owns it? Here’s what the law saysA recent Supreme Court ruling clarifies that properties acquired by a Karta using both personal and ancestral income are presumed joint fam...
- Calling property ‘ancestral’ isn’t enough: Courts demand clear chain of title and documentary proofCourts now demand concrete proof for ancestral property claims. Simply calling property ancestral is insufficient. Claimants must establish...
- Can a Karta sell joint family property to one relative? Here’s what the law allowsThe Supreme Court upheld a Madras High Court ruling stating a Karta cannot transfer joint family property to one member without genuine nec...
- Karta’s property not treated as HUF asset if he can prove it was acquired from personal income without use of ancestral assetsThe Supreme Court of India has clarified property division rules for Hindu Undivided Families. A Karta's property is considered self-acquir...
- HUF land dispute reaches Supreme Court: One brother gets 5/16th share, other retains self-acquired propertiesThe Supreme Court has settled a family land dispute between two brothers, awarding one a 5/16th share in ancestral HUF properties. The cour...
- Sold land for Rs 5 crore, bought new land in wife’s name, paid no capital gains tax, got tax notice; Why ITAT Delhi denied tax exemptionA man who sold agricultural land for Rs 5 crore and reinvested the gains into a new plot in his wife's name was denied capital gains tax ex...
- Ancestral land sale: Tax department issues notice over Rs 8 crore share, taxpayer wins case in ITAT Delhi; here's what happenedA man received Rs 8 crore from the sale of ancestral land, but the tax department issued a notice for tax evasion. The Income Tax Appellate...
- Father sold family land for daughter’s marriage; first son alleged father was alcoholic and filed a case but lost in Supreme Court due to this reasonThe Supreme Court addressed the sale of HUF land by its Karta, Sharanappa, challenged by his first son. The court overturned the High Court...
- House property received by an individual as a gift is taxable in these situationsGifting property to close family isn't taxed for the recipient, but rental income tax depends on the relationship. Gifts to spouses or daug...
- Get full tax exemption on sale of farm land by using this tax provisionIndian taxpayers, especially individuals and HUFs, can save on taxes by reinvesting capital gains from agricultural land sales into new agr...
- NRI cannot claim LTCG indexation benefit while selling property in IndiaLTCG indexation benefit on sale of house property: The government has provided partial relief to the homeowners by providing an option of i...
- Is gift deed a tax-efficient way to transfer assets to legal heirs?Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
- How to transfer money received by a nominee to legal heirsReaders' estate planning queries answered by Raj Lakhotia, Founder, Dilsewill.
- Punjab polls: Amarinder Singh's assets worth Rs 63.73 croreAccording to his affidavit, Singh owns moveable assets worth Rs 10.42 crore. He owns immovable assets worth 58.31 crore. The 79-year-old sc...
- Lessons from Murugappa: What are your inheritance rights as a woman?Succession and inheritance laws are still grey areas for many women, largely due to the lack of uniformity.
- Inheritance rights of women: How to protect them and how succession laws varyWhether you are a wife, daughter or mother, find out what you are entitled to and how you can claim it.
- Daughter's claim to father's property: When she can and when she can'tFor all the women who are not clear about their rights regarding their father’s property, ET Wealth lists the situations where they can sta...
- Nitin Gadkari declares assets worth Rs 25.12 crore in poll affidavitAs per his tax return forms, his total income stood at Rs 2,66,390 in 2013-14 and Rs 6,40,700 in 2017-18.
- PM's assets around Rs 10.73 crore, cabinet colleagues richerPM has assets worth around Rs 10.73 crore, double that of last year, but a number of his cabinet colleagues are much richer than him.
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