Answers By Expert: Law Intern
Dear sir , old 50 years rented property purchased @ Rs 5000 /= and paying rent Rs 100/= per month area 120 sqft --received from my father which has redeveloped in year 2015 with ownership bases new flats given to us . now after 10 years stay we wish to sold at Rs 50 lakhs . In redevelopment i have paid Rs 5.0 lakhs for parking space at ground level. NOW WHAT WILL BE TAX ? As already i have one flat on ownership bases available . any tax saving scheme is available ? or i can gift to my…
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The appellant has requested an adjournment. How can one find out the next scheduled date?
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A company is owner of a shop on which depreciation is claimed and allowed. The market value of the said shop is say 10 lacs. The building where the shop is located goes for redevelopment and the developer builder enters into an exchange agreement wherein he allots a shop worth Rs.20 lacs on the adjoining plot where he is constructed shops in exchange of the old shop. Possession of the old shop will have to be given on receiving possession of new shop. Whether the company has to deduct 20 lacs from block of assets as the old shop is…
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We are three brothers and inherited a house and 200gms gold jewellery from our father who died intestate. We have registered the house in PUDA in the name of the three brothers equally. Now one of the brothers wants to transfer the share to other two for money, who is NRI. Please give your valuable opinion as to whether this is transfer liable for capital gain tax, as one brother is relinquishing his right in favour of other FOR CONSIDERATION. THANKS
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Originally, under an arbitration award/partition effected in the year 1938, Ratilal Gandhi received his share from the properties belonging to his father. Thereafter, in the year 1950, he effected an internal family partition and allotted portions of the properties to his wife and one of his sons. Subsequently, his younger son was born. By way of a testamentary disposition (Will), Ratilal Gandhi bequeathed the commercial property falling to his share in favour of the Hindu Undivided Family (HUF) of the said younger son. The coparceners/co-members of the said HUF are the son, namely Shantanu Gandhi, along with his four children…
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Sir, If I give my son or my daughter-in-law the mutual fund as a gift, will they or I be liable for capital gain tax? -
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My parents had purchased an office jointly and investment was made by mother only and father's name was just for convenience sake. Rent income of said office was offered to tax in mother's IT Return only. Father expired and his name was deleted in share certificate. Mother expired thereafter and she had made nomination in favour of her son's HUF and also had bequeathed the office to her son's HUF. Now if Release deed is made wherein all legal heirs release their share of father in office in favour of HUF of legal heirs them whether Stamp Duty of Rs.…
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Dear sir can you please provide landmark Supreme Court and high court judgements for section 273 B in favour of assessee thanks in advance
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I retired from the Central Autonomous Body (CAB) on 31/05/2025. Prior to joining CAB I served in the Central Govt. for 9 years and Statutory Board of the State Govt. for 3 years. Service rendered in these organisations was counted for the Pensionary benefits in CAB. As per the rules I got the Earned Leave encashment from both the places. At the time of my retirement CAB deducted leave encashment I had received from the Central Govt. without quoting any reason. CAB has its own Governing Council. CAB has its own Leave Rules. Please help me to get balance leave…
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tax applicable guidance required