Results for #rules
Taxes & Duties
#rules#nri#sell#property#mumbai
I am a Captain in the Merchant Navy and as per Income tax rules I am an NRI. I wish to sell my property in Mumbai that is jointly owned by my wife and I, and invest the proceeds in another property. Is there any TDS to be deducted by the buyer in this situation?
I am a Captain in the Merchant Navy and as per Income tax rules I am an NRI. I wish to sell my property in Mumbai that is jointly owned by my wife and I, and invest the proceeds in another property. Is there any TDS to be deducted by the buyer in this situation?
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Answered on November 08, 2017
The property is situtated in India and therefore capital gains tax will arise on this transaction. The buyer will have to deduct TDS as per provisions of section 195 of the Income Tax Act since you are NRI.
Legal
#set#rules#property#death
Are there any set of rules that are to be followed regarding the division of the property after the demise of the parents. And will the property be carried on to the children of the sister in case of her death?
Are there any set of rules that are to be followed regarding the division of the property after the demise of the parents. And will the property be carried on to the children of the sister in case of her death?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
The law of succession to property would depend on your religion and the same would be governed by the concerned law of intestate succession. In the case of Hindus, the children of the sister will continue to have a share in the property even after her death.
Legal
#citizen#property#rules#regulations#buying
I am an Indian citizen and I wish to buy a property in Nepal. Can you tell me what are the rules and regulations to buying a property in Nepal for an Indian citizen.
I am an Indian citizen and I wish to buy a property in Nepal. Can you tell me what are the rules and regulations to buying a property in Nepal for an Indian citizen.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Indian citizens are permitted to acquire property in Nepal. However, prior to such purchase it is better that you consult a local lawyer in Nepal for the same and investigate the title of the property there.
Legal
#huf#will#rules#nominee#property
According to HUF rules there can be nominee to my property and investments. Under my HUF, I own a property and multiple investments in the form of FDRs and others etc. I want to bequeath these investments to my nephew, how can I go about with this?
According to HUF rules there can be nominee to my property and investments. Under my HUF, I own a property and multiple investments in the form of FDRs and others etc. I want to bequeath these investments to my nephew, how can I go about with this?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
If your nephew forms part of the HUF, then you could devolve your share in the investments of the HUF unto and in favour of your nephew by way of a testamentary disposition i.e. Will.
Legal
#kindly#rules#land#authority#possession
Kindly resolve a few of my questions with regards to Demarcation. 1. What are the rules of demarcation of a land? 2. Under which act is the demarcation of land stated? 3. Does the Deputy Collector and the Magistrate have the authority to give the possession of a land which is demarcated? 4. What other legal actions can be suggested to obtain the possession of the land?
Kindly resolve a few of my questions with regards to Demarcation. 1. What are the rules of demarcation of a land? 2. Under which act is the demarcation of land stated? 3. Does the Deputy Collector and the Magistrate have the authority to give the possession of a land which is demarcated? 4. What other legal actions can be suggested to obtain the possession of the land?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Demarcation or Survey of land would depend on laws of each state and varies from state to state. The same would be governed by the land code of each state, in Maharashtra, the same is governed by the Maharashtra Land Revenue Code. The authorities would have power only to carry out survey and/or demaraction of lands and would not have the power to hand over possession of such demarcated land, un...
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