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ANCESTRAL LAND INCOME
Aamir Khan's Rs 1,862 crore empire: Inside Bollywood superstar's lavish homes, Rs 27 crore car collection, Beverly Hills mansion after wedding to Gauri SprattBollywood icon Aamir Khan, recently married to Gauri Spratt, boasts an impressive net worth exceeding Rs 1,862 crore. His vast fortune stem...- Mercury Retrograde in Cancer 2026: Dates, Effects and What Every Zodiac Sign Should Do Before June 29Mark your calendar. Mercury, the planet of communication, intellect, and decision-making, stations retrograde in the emotionally charged si...
- Marriage over, liability remains: HC orders husband to pay maintenance to wife despite his student status16 year old student married 25 years old girl; After marriage breaks down she asks for maintenance which he denies on the ground of being a...
- Rs 45 lakh city salary vs Rs 8 lakh village income: Bengaluru techie shares why assets, not salary, determine real wealthA viral post by Bengaluru techie Sakshi highlights how owning assets, not just high salaries, builds true wealth. Her village cousin, earni...
- Wife earning Rs 1.5 lakh per month sought higher maintenance citing husband’s one acre land and ancestral property; HC refused higher maintenance on this groundA wife earning Rs 1.5 lakh monthly sought higher maintenance from her husband. The Karnataka High Court denied her plea. The court noted he...
- 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...
- Sold two farm lands for Rs 8.75 crore capital gains but paid no tax or filed ITR; ITAT Ahmedabad rules in favour of taxpayerA man from Bharuch, Gujarat had sold two agricultural lands for Rs 8.75 crore capital gains to a company who subsequently used the lands fo...
- 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 and son jointly sell ancestral land for Rs 13 crore; father gets tax notice; they file appeal in ITAT Pune and win caseA father and son sold ancestral land for Rs 13 crore, but the buyer's TDS error led to a tax notice for the father. The ITAT Pune ruled in ...
- He sold ancestral land for Rs 1 crore but in ITR showed only Rs 2.45 lakh income; Wins case in ITAT Chennai due to this reasonMr. Natesan sold ancestral land for Rs 1 crore, investing Rs 82 lakh in a house and declaring Rs 2.45 lakh income. Initially facing a tax d...
- Granddaughter can’t claim a share in maternal grandfather’s property in this condition, rules Bombay High CourtIn a significant ruling, the Bombay High Court has denied a granddaughter's claim to her maternal grandfather's ancestral property, clarify...
- How to transfer money received by a nominee to legal heirsReaders' estate planning queries answered by Raj Lakhotia, Founder, Dilsewill.
- VG Siddhartha took homegrown coffee to the worldVG Siddhartha built an empire on coffee plantations, with utmost care.
- What will be the tax implication on sale of inherited non-agricultural land?The difference between the selling price and the indexed cost of the land’s acquisition will be your long-term capital gain.
- Sonia’s assets worth over Rs 9 crore, has given a loan of Rs 9 lakh to Rahul GandhiSonia has mutual funds worth Rs. 82.20 lakh, PPF amounting to Rs. 42.49 lakh, National Saving Scheme of Rs. 2.86 lakh and ornaments worth o...
- Arvind Kejriwal declares assets worth Rs 93 lakhAam Aadmi Party convener Arvind Kejriwal has declared assets worth Rs 93 lakh and liablity of Rs 23,550 of unpaid electricity bills.
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