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Legal Dilemma: Rights of widowed daughter-in-law in coparcenary inheritance - Explained

New Delhi, March 28 -- Can a widowed daughter-in-law demand her share or dissolution of her father-in-law in which her late husband was a coparcener? Under Hindu Law, two categories of members consti... Read More


Buying property in Australia? Here are income tax compliance you should know before you purchase

New Delhi, March 23 -- I am planning to buy a residential property from a person who is a resident of Australia for Rs.75 lakh. I understand that since the sale consideration exceeds 50 lakhs I have t... Read More


Income tax: What are the capital gains implications of selling a flat without taking possession?

New Delhi, March 12 -- I booked a residential apartment in March 2021 and paid Rs.50 lakh ( Rs.18 lakh down payment + 38 lakh home loan), which is being sold for Rs.95 lakh now. The apartment is now r... Read More


HUF taxation: Implications of coparcener's death

New Delhi, March 8 -- I presume that it would be legal for taxation purpose in case we form a HUF with the following structure as we have 2 coparceners. Father - Coparcener - Karta Mother - Member ... Read More


My father wants to gift cash to me. Should I pay income tax on money received from my father?

New Delhi, Feb. 27 -- I intend to make a gift of Rs.1 lakh to my adult daughter. What will be the tax implications of this gift for me as well as my daughter? Do I need to follow any procedure for mak... Read More


My grandmother wants to gift cash to me. What are the income tax implications?

New Delhi, Feb. 23 -- My grandmother is a senior citizen and wishes to gift me money in cash. Can she gift me in cash? If yes, is there any limit under the Income Tax Act or any other law? There is n... Read More


New income tax regime: Can I avail of deductions under Section 80TTA/80TTB?

New Delhi, Feb. 22 -- I understand that interest from a post office savings bank account is first included as income under the "income from other sources" and then the deduction is available u/s 80TTA... Read More