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HUF LAND INDIA
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...- Man pays zero tax on Rs 5 crore land sales despite filing ITR after deadline; ITAT Mumbai rules in his favour for this reasonA Mumbai man successfully claimed a tax exemption on Rs 5 crore land sales despite filing his ITR after the deadline. The ITAT Mumbai ruled...
- 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...
- 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...
- Karta repays more than advance taken, I-T sends tax notice, but ITAT Mumbai rules in favour of HUFThe Mumbai branch of the Income Tax Appellate Tribunal has issued an important ruling, stating that any surplus loan refunds received by a ...
- Pay zero income tax on capital gains: CA explains how you can save tax by re-investing up to Rs 10 crore LTCGSelling capital assets can lead to taxable gains, but strategic reinvestment can eliminate tax liability. Individuals and HUFs can offset l...
- 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...
- Sold your house property or land? These nine sections in Income Tax law can help save capital gains taxIndians can save capital gains tax on property sales. The Income Tax Act offers nine sections for tax reduction or zero tax. Sections cover...
- When to use Capital Gains Account Scheme to save income tax if you made long-term capital gains after selling land, property, equities, etc.?Capital gains: Both Indian residents and NRIs can use Capital Gains Account Scheme (CGAS) to save paying capital gains tax on long-term cap...
- 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...
- Joint-ownership in existing flat will not bar tax benefit on investments in another house: ITATWhen a taxpayer earns long-term capital gains from sale of any asset (other than a house property), the tax arising on the gains can be sav...
- Can a married woman be a part of two HUF accounts?Find answers to common estate related queries which most of the people face in their lives.
- From Sept 1, individuals must deduct TDS on payments to contractors, professionals: Know all about itThe rate at which the tax has to be deducted is 5% unless the payee has obtained a lower withholding tax certificate from the department.
- New I-T return forms: Expats need to give more info for claiming tax pact reliefOverseas residential details, tax identification numbers & residential status in India will need to be provided.
- Yogendra Yadav accuses BJP and Congress candidates of undervaluing assetsYogendra Yadav said AAP will complain to the Election Commission of India about this and urge it take strict action against them.
- Know your deposit takerLay investors compare returns with post office saving schemes. Anything that looks dramatically better is irresistible to them.
- Five smart things to know about wealth taxWealth tax is an annual direct tax imposed on the net wealth of individuals and HUFs with reference to the preceding financial year or the ...
- Exemption limit for wealth tax to go up to Rs 1 croreDTC Bill proposes to raise exemption limit for imposing wealth tax to Rs 1 cr from Rs 15 lakh at present, a move that will help a lot of ta...
- All about wealth taxYou don't need to be on the Forbes billionaires list to be subject to wealth tax. All you need to possess is a few prescribed assets, the v...
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