Legal / Will

    Your legal guide on estate planning, will & more

    She sold her house for Rs 2.7 crore to buy seven new flats and paid no income tax, wins case in ITAT Delhi; Know how

    Saroj sold her Punjabi Bagh house for Rs 2.7 crore. She then bought seven apartments in Greater Noida. She reported Rs 5 lakh income in ITR and claimed Rs 2.2 crore LTCG tax exemption. The tax department partially denied the exemption. Then Saroj appealed to ITAT Delhi. ITAT Delhi ruled in her favor.

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    Husband files for divorce from wife citing her mental illness started much before marriage; High Court denies divorce on this ground

    A husband's plea for divorce from his wife, citing her concealed mental illness and subsequent cruelty, was rejected by the Chhattisgarh High Court. The court emphasised the husband's failure to provide concrete medical evidence, such as expert testimony or clinical records, to substantiate his claims of the wife's schizophrenia. Read to know more details about this divorce case.

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    7 proven strategies to protect your assets during a divorce

    Going through a divorce can be both emotionally painful and financially difficult. Protecting your assets is a smart way to keep your finances secure and prevent unnecessary arguments or c

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    Father sells house worth Rs 67 lakh and shows only Rs 1,690 income in ITR, wins case in ITAT Ahmedabad; Know how

    Dilip, an Indian taxpayer, won a case at the ITAT Ahmedabad regarding a Section 54 LTCG tax exemption. Despite initially facing scrutiny for claiming Rs 15.99 lakh as indexed cost of improvement with cash payments and selling his house below stamp duty value, the ITAT directed the tax officer to verify and allow his claim. Read more.

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    From Rs 21,350 tax demand to zero tax; How a taxpayer won Section 87A case in ITAT Bengaluru

    From Rs 21,350 tax demand to zero tax; How a taxpayer won Section 87A case in ITAT Bengaluru

    In a taxpayer-friendly ruling, the ITAT Bengaluru allowed Mr. Jakkaraju's Section 87A tax rebate claim, even though it was filed in a revised ITR. T

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    How to transfer property after death: A step-by-step guide for legal heirs

    The first step is to determine who qualifies as a legal heir. If the deceased left a will, the beneficiaries are mentioned in it. If not, succession laws based on religion—like the Hindu S

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    Delayed possession: Builder ordered to pay Rs 26 lakh interest compensation to homebuyer for 8-year delay in delivering Rs 32 lakh flat

    The Walavalkar family finally secured justice after an eight-year delay in apartment possession. MahaREAT ordered the builder to pay Rs 26.83 lakh as interest compensation. The tribunal denied the builder Covid-19 moratorium benefits. This ruling ensures homebuyers receive rightful compensation for project delays. The builder must also hand over the apartment with an occupation certificate.

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    Wife with Rs 16 lakh annual income asks for maintenance; husband fights back and wins the case, here's how

    In a significant ruling, the Madras High Court denied interim maintenance to a wife with substantial income and assets, reinforcing that such support is intended for those unable to sustain themselves. The court emphasized that Section 24 of the Hindu Marriage Act aims to ensure a comfortable lifestyle, not to enrich an already financially secure spouse.

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    Husband has to pay income tax for wife’s Rs 17-crore land sale deal due to this reason; ITAT Bangalore ruling explained

    In a recent ruling, the Income Tax Appellate Tribunal (ITAT) Bangalore held that a wife is exempt from income tax on the ₹17.26 crore sale of land gifted by her husband. The ITAT cited Section 64(1)(iv) of the Income Tax Act, stating that income from assets gifted between spouses is taxable in the hands of the transferor, not the recipient.

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    RERA Impact: Arrest warrant issued against builder who failed to pay compensation to property buyer for 14 year delay in possession

    RERA Impact: Arrest warrant issued against builder who failed to pay compensation to property buyer for 14 year delay in possession

    Haryana RERA has directed the arrest of a builder's directors. This action follows their failure to compensate a property buyer. The buyer faced a 1

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    The Economic Times