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ANCESTRAL HUF PROPERTY
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...
- 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...
- Zerodha's Nithin Kamath draws attention to a lesser-known income-tax saving methodNithin Kamath, the billionaire co-founder and CEO of Zerodha, highlighted the benefits of the Hindu Undivided Family (HUF) through a post o...
- 4 things that can go wrong if you invest just to save taxMany investors view tax concessions as choices that must be optimised. Why should we worry about this? We may end up with an asset allocati...
- Supreme Court examines if illegitimate child has right over ancestral propertyAs some of the contesting counsel veered towards a consensus that under Section 16(3) of the Hindu Marriage Act, 1956 a child born to a voi...
- My husband was the karta of our HUF; he passed away. Can I take over as the karta till my sons become adults?Readers' estate planning queries answered.
- How to transfer money received by a nominee to legal heirsReaders' estate planning queries answered by Raj Lakhotia, Founder, Dilsewill.
- Should the HUF be phased out?ET Wealth talks to experts to draw out opinions on both sides of the argument on whether HUFs should be phased out.
- Inheritance rights of women in own, husband's ancestral property, coparcenary propertyA widow's share in the joint family property of the deceased husband is only up to the share that would have come to him out of that family...
- The most tax-efficient investment strategies for an Indian HNITo save taxes and plan investments, HNIs can create HUFs, form LLPs or family trusts.
- Hello Dear HNI, here’s how to reduce your tax liabilityHowever, the Indian Income Tax Act also, provides several avenues to taxpayers to reduce their tax liabilities in a legitimate manner. Some...
- Hindu-Muslim marriage: Can woman still claim right to her parent's self-acquired property?There is no legal concept of disowning a child, but parents can deprive a child of his share in their self-acquired property through a will.
- 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...
- How to use HUF for as a tax planning toolThe Hindu Undivided Family structure is a great tax planning tool that can divide your tax liability and multiply the benefits. Find out ho...
- Form HUF in three stepsUse a capital asset to establish the corpus of the HUF. This can be ancestral property, assets gifted by relatives and friends, or received...
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