[deepak_misra]

Hi

I needed some information on setting up a HUF (Hindu Undivided Family). This is actually 2 parts, one understanding the intricacies , pros and cons and repercussions and second maybe actually setting up if it makes sense.

This obviously cannot be done via free advise and hence i was looking for referrals for someone in Bangalore.

I am not even sure if this falls in a lawyers or Chartered Accountants realm.

Pointers will be much appreciated

[arighna.dutta]

Hello Lawyers in the group,

Need help!

Coming straight to the point: My car got hit from the rear on 17.03.19 by another car whose driver was completely in intoxicated condition. The guy (driver who hit my car) profusely request me to not call the cops at the spot as he is ready to bear the cost. The very next day, I went and reported the incident to the cops however.

Next set of experience was really sad, as the guy was not ready to cover the estimated bills.

Next we went to the cops again, as the guy wanted to accept his mistake and report to the cops and cover from his insurance, for which he figured that he might have to get into too much trouble and and requested me to not take this step and he had agreed to cover the depreciation/excess in written at police station.

Days have past by and the guy doesnt want to oblige apart from the 1/3rd of the bill which he has transferred. In this situation, please kindly let me know, what should be my next step? I guess more than money, I am regretting to let go a guy who feels he can do drink and drive any number of times and get away with that.

I can share the documents with the cops and if any detailed information if required.

Please help me with what should be the next course of action.


Thanks in advance!!

[Samurai]

This is question of CAs, regarding capital gains calculation of an apartment.

When someone buys an apartment from a builder for say ₹25 lakhs, they usually sign two kinds of agreements, with different price amounts.

For example:
Sale Agreement for an amount for ₹5 lakhs.
Construction Agreement for an amount for ₹20 lakhs.

However, the registration is done at ₹5 lakhs, to match the sale agreement. This used to be common practice. Not sure about now.

When the owner gets to sell that flat on a later date at ₹50L, what amount is used for capital gains calculation? Will the index be applied on ₹5L or ₹25L?

[drive2eternity]

Question for Lawyers.

I presently stay in Bangalore and my marriage was registered in Delhi (Marriage certificate is in English). Now, I need to produce a certificate/notarized letter by the SDM(?) for my Schengen Work Permit. Any idea how to proceed with it? The notarized letter should be issued in the last 6 months as per embassy requirements.

[carboy]

A father has 2 children - father has willed some land in his native place to one of the children (say A). Father is still alive. The other child B is interested in the land & A is willing to let go of it at the proper price. However A cannot sell the land to B because A doesn't own it yet - it's still in father's name & he is still alive.

If A wants the money currently from B what is the best way to go about this efficiently in terms of taxation and also in terms of any other registration/stamp duty etc charges? The land in question is in Kerala. Current value would be around 30-40 Lakhs.

[bking]

Reviving this thread with a very pressing concern at hand. My friend has been defrauded by an individual. He sold a car to him which was later found out to be with a bent chassis and was declared as total loss by the company. What is the legal action that can be taken against him in this case since there was no disclosure on his part?

[Ragavsr]

Originally Posted by bking

Reviving this thread with a very pressing concern at hand. My friend has been defrauded by an individual. He sold a car to him which was later found out to be with a bent chassis and was declared as total loss by the company. What is the legal action that can be taken against him in this case since there was no disclosure on his part?

I don't think any legal action can be taken as there is no law which prevents the sale of a total loss vehicle with or without disclosure in India.

With used cars, its always buyer beware and he must have done his due diligence.

[vrprabhu]

I am not a CA, but from my personal experience can say this :

While computing capital gains on transfer of landed property (which includes flats / apartments etc.), the cost of acquisition of an asset as well as subsequent expenses incurred for its improvement can be included. Since the second amount is paid for actual construction of the flat, the same will form part of the original cost of acquisition.

In fact, if you have made any subsequent improvements (like internal fixtures etc.) the same can also be included in the capital cost.

Originally Posted by Samurai

This is question of CAs, regarding capital gains calculation of an apartment.

When someone buys an apartment from a builder for say ₹25 lakhs, they usually sign two kinds of agreements, with different price amounts.

For example:
Sale Agreement for an amount for ₹5 lakhs.
Construction Agreement for an amount for ₹20 lakhs.

However, the registration is done at ₹5 lakhs, to match the sale agreement. This used to be common practice. Not sure about now.

When the owner gets to sell that flat on a later date at ₹50L, what amount is used for capital gains calculation? Will the index be applied on ₹5L or ₹25L?

[carboy]

If a person who owns a flat in Bombay passes away without a will but the person's sons are registered as nominees with the society, then what happens after the death of the person. Will the sons automatically become owners of the home? Can they sell the home? Can they live in the home? Are there any legal things to be done after the death? Or any registration with the govt?

[Ragavsr]

Originally Posted by carboy

If a person who owns a flat in Bombay passes away without a will but the person's sons are registered as nominees with the society, then what happens after the death of the person. Will the sons automatically become owners of the home? Can they sell the home? Can they live in the home? Are there any legal things to be done after the death? Or any registration with the govt?

Registration is always with the government. The government doesn't care what name is registered with the society. After all , a society is a voluntary association that maintains the common areas of the apartment.

Obviously , the apartments can be sold with the signature of all the legal heirs of the deceased without changing the registration.

[WorkingGuru]

My tenant wants to register the lease for a canteen in his personal capacity, but is offering to pay rents through the canteen companies current account with PDCs for the lock-in period.

Is this generally done ? Any legal issues ?

[carboy]

Originally Posted by Ragavsr

Obviously , the apartments can be sold with the signature of all the legal heirs of the deceased without changing the registration.

And how does one prove that people who are signing on the sale are all legal heirs & also the complete set of legal heirs.

[jbpanda]

Originally Posted by WorkingGuru

My tenant wants to register the lease for a canteen in his personal capacity, but is offering to pay rents through the canteen companies current account with PDCs for the lock-in period.

Is this generally done ? Any legal issues ?

It's important to know what is the tenant's position in the company and whether or not he will be a signatory to the PDCs. In the event the tenant is not signing those PDCs, in case of dishonour of any of the cheque deposited in discharge of liability towards rent, it may be difficult to pursue a proceeding for cheque dishonour under Section 138 of Negotiable Instruments Act. The existence of a debt or a liability is essential for maintaining such a legal proceeding. In such circumstances, an additional documentation (say, a side letter/ agreement) may be entered into in addition to the lease agreement clearly establishing the nexus.

[WorkingGuru]

Originally Posted by jbpanda

It's important to know what is the tenant's position in the company and whether or not he will be a signatory to the PDCs. In the event the tenant is not signing those PDCs, in case of dishonour of any of the cheque deposited in discharge of liability towards rent, it may be difficult to pursue a proceeding for cheque dishonour under Section 138 of Negotiable Instruments Act. The existence of a debt or a liability is essential for maintaining such a legal proceeding. In such circumstances, an additional documentation (say, a side letter/ agreement) may be entered into in addition to the lease agreement clearly establishing the nexus.

Thanks, the info helped me dodge a bullet as I wouldn't have guessed the gravity that it implies.

[tikku.dk]

Originally Posted by carboy

If a person who owns a flat in Bombay passes away without a will but the person's sons are registered as nominees with the society, then what happens after the death of the person. Will the sons automatically become owners of the home? Can they sell the home? Can they live in the home? Are there any legal things to be done after the death? Or any registration with the govt?

Obtain legal heirship certificate from the Thahasildar/concerned authorities and execute a partition deed between legal heirs. If other legal heirs are willing to release their share in the flat execute a release deed in favor of one legal heir.
No. The sons won't automatically became owners. They need to transfer the flat to their name and have to pay property tax to revenue authorities in their name to became registered owner

They cannot sell the home unless it's transferred to their name
They need to register death in local govering body like corporation/ muncipality.. and obtain death certificate. And next process is availing legal heirship certificate
BTW which law governs you, Hindu, Xi'an or others?