[sukhoi]

Hello,

Had a query regarding lending money to friend for his house purchase. What are the tax liabilities associated with me transferring an amount over 50K (which is the limit for gifts) which would be returned back after few months. What I found after some googling online was that

The Gift Tax now permits the transfer of amounts as gifts up to Rs. 50, 000, without any taxes. Loans, which are not gifts, and are to be paid back by the borrower, are not taxed either.

For such a loan are just bank entries enough or do we need to draw up some sort of deed/paperwork so that if the IT department asks about the inflow of funds at a later date, we can explain this is the loan being repaid back? There is not interest component associated with the loan and only the principal amount would be returned back in next 6 months.

Thanks,
S

[Fx14]

A query to the CA's with respect to the LTCG computation on stocks with Grandfathered price and undergone a split post that :

Suppose the Fair Market Value as on 31st January 2018 (Grandfathered price) of a stock was Rs. 2000/- and the stock is subsequently spilt into 2.

While computing capital gains on sale of shares post the split (for filing returns), should the Fair Market Value as on 31st January 2018 (Grandfathered price) of the stock be stated @ Rs. 2000/- or it has to be adjusted for the split and thus stated @ Rs. 1000/- ?

[Rajeev1]

The cost of the stock will have to be reduced in reverse ratio of the split despite the fact that the actual split took place after 31st Jan 2018. Therefore Rs.1000 will be your cost for purposes of computing LTCG.

[Fx14]

Originally Posted by Rajeev1

The cost of the stock will have to be reduced in reverse ratio of the split despite the fact that the actual split took place after 31st Jan 2018. Therefore Rs.1000 will be your cost for purposes of computing LTCG.

Thanks for your response.


The following article is what caused the confusion :

https://www.livemint.com/money/ask-m...595212463.html

[antz.bin]

Govt. wants senior citizen to get vaccinated.

So my 70+ yr old parents went to the vaccination centre to get the vaccine with a proper 4 PM appointment from Arogya Setu App on 9th March. They were denied the vaccine.

Timing for Vaccination at Civil Hospital, Nashik: 9:30 AM to 6:30 PM

Reason vaccine declined by staff: Shillakh nahi, Sampli (Translation from Marathi: Out of stock, finished).

When my father protested and told my brother to start video-recording the incident, staff on duty tried to snatch the camera from my brother's hand. To avoid the phone from getting snatched, my father also joined and tried to remove this person's hand. In all of this altercation, it seems that the hospital staff fractured one of his fingers (as per media reports).

Fracturing the finger may or may not have happened in the above altercation since the same person had the strength and energy 1 hour later to try to push my brother (45 yr old, 90+kg) which led to him falling and getting minor bruises.

Anyways, after this incident, there was a lot of back and forth that happened which involved more manhandling of my brother. And then miraculously, at 6:15 PM, they found stock of the vaccine which was "Finished" and "empty" at 4:30PM. They now wanted to vaccinate my parents as per the printed slip handed out by the hospital staff.

Finally, now my father has a police complaint against him saying that he caused obstruction to public servant from performing his duty under section 353. When in fact, all he did was tell the person to do his duty. Thankfully, there is no mention of this injury in the police complaint or else more sections would have been part of the complaint.

Now his face and name were plastered all over the Zee24taas news for 1 full day and his name is in the papers.

Exhibits:
1. News Article March 10th.

Last line says that FIR has *not* been registered till late night.

2. News Article March 11th.

Last line says that FIR has been registered.

Twitter Thread with video recorded by my brother: https://twitter.com/AKLalB/status/1369435566383788033

The video being recorded by the woman in the video from 27 seconds onwards was the one shown on the news.

TL'DR:
1. Hospital staff refused to vaccinate my parents and lied about the stock being finished.
2. When confronted, they lied again, fought, manhandled, tried to snatch mobile phone.
3. 2 Hours later, they had a change of heart and now wanted to vaccinate my parents.
4. Later that day, they made a police complaint against my father.

Further course of action according to me:
1. File RTI to get stock levels of Covishield vaccine in the Civil Hospital, Nashik on 7,8,9,10,11,12 March including stock coming in, stock utilized, stock wasted, and no. of people vaccinated.
2. Giving a statement in writing to police since they refused to entertain a complaint. We lost the race.
3. Getting anticipatory bail since Section 353 is non-bailable.

Anything else we should be doing? Please let me know.

[Ragavsr]

Originally Posted by antz.bin

Reason vaccine declined by staff: Shillakh nahi, Sampli (Translation from Marathi: Out of stock, finished).

While I am no lawyer here, it's protocol to ensure at least 10 beneficiaries are needed to ensure that vial is finished , to prevent the rest of the vial from going waste. Asking people to come to the centre at a particular time is happening at every centre across the country.

The violence that followed is unfortunate and both the parties could have shown enough maturity in handling the situation.

You can get a lawyer to register a case on your behalf at the Court since the the Police aren't entertaining a counter case which is a sad reflection of rhe competence of the police . The decision to file a complaint or a counter complaint should rest with the victim , not the police.

[V.Narayan]

Sorry to read about this altercation which has now taken a rather more serious turn. Before you go down deeper into this and get your self and your family tied up further in knots you should introspect and understand that reading the narration as you have put it the aggression was initiated by your side and then escalated by the filming. And even now your thought is on further aggression through RTI etc. It will only land you in a deeper soup. A kind word, an apology, a soft dialogue with the medical team and the Police will help you a lot more than still further escalation.

As a part of the management of hospitals I can tell you the Govt has decided to adopt a low tolerance attitude to such incidents and unless you choose to adopt a softer line and douse the fire things could get beyond your control.

Without reading the other side of the story a neutral observer cannot judge who is at fault and to what degree. This is clearly a quarrel that was entirely avoidable.

[antz.bin]

I know it was avoidable.

I know there was no need for them to go to a govt. hospital, they had an appointment at Wockhardt hospital for March 7. They chose to not go there and we are here now.

It has been 4 days since the incident. The FIR is now online, the matter will most certainly go to court. By most estimates, the compromise boat has sailed.

My father is a difficult man to deal with, but as a son, it is now my responsibility to pull him out of the hole he is in.

I am writing here just to bounce ideas off a learned lot since there are a lot of mistakes that have been made in the past 4 days.

Mistake #1: Not filing the police report immediately. That put us on a severe disadvantage when it came to compromising.

This is being rectified today by way of an application.

Mistake #2: Starting the video instead of getting the reason in writing/giving them the benefit of doubt.

This cannot be fixed now. This led to everything. Ready to pay the fine for the offense.

Mistake #3: Sticking around for 2+ hours and not going to a private facility immediately.

All of these are mistakes on our side. I am in a different city and cannot do anything about it. What we can do now is try to salvage the situation. Preferably without bending over backwards.

Step 0: Try to compromise. If still possible. Highly unlikely.

Step 1: Save ourselves: Apply for bail

Step 2: Prepare for defensive:
1. 353 is valid for govt. employees. But is it valid for contract workers? Proving that the person is a contract worker can help avoid jail time. This can be achieved using an RTI.

2. Proving that he was not stopping anyone from performing duty but making them do it can also price 353 is not valid in this case. Avoiding jail time. This can also be achieved using the RTI mentioned in my previous post.

Step 3: Prepare for offensive:
1. My folks were definitely attacked. That is a fact. They need to be punished for it.

2. Hospital folks are lying about the injury. That I am at least 70% certain. Can be proved if pursued.

3. Hospital has spread other fake rumours that my family took 40 people to the hospital to try to beat up hospital staff. Even the local MP knows about this. They are using every trick in the book to make us look bad. That needs to stop.

[antz.bin]

Update: Rectification of mistake #1 led to talks with the police.

They have asked all parties to meet on Monday to get this over with. We may still be able to work out a compromise.

#FingersCrossed

[sumukha]

I need help from lawers regarding registration of Aartment owners Assocition in Karnataka. The owners of the gated community where I own a villa are confused as to

1: whether registration of Deed of Declaration by the developer is mandatory.
2: we understand that the matter as to who is the "Competant Authority" is under Judicial review and the registration of Association is stopped. IS IT TRUE.
3: under which law the Association has to be formed. KAOA or CoOperative society act or Company law. confusing opinions are being given. Need clarity.
4: Is there any clarity on the Voting Share ? is it the percentage of UDS of the individual owners or One unit one vote?

Please help.

[V.Narayan]

Originally Posted by antz.bin

Update: Rectification of mistake #1 led to talks with the police.

They have asked all parties to meet on Monday to get this over with. We may still be able to work out a compromise.

#FingersCrossed

The discussion is likely to take an hour or two. Carry along something tasty to munch and a thermos of hot tea all of which can be shared as a courtesy with the other side and the cops. It helps set the tone. You may want to consider having a man to man talk with your father before hand about letting you handle the dialogue. If your father/ brother, get hot under the collar, they need to understand who is in hot soup here. Apologies for being so direct. Best of luck.

[Ragavsr]

Originally Posted by V.Narayan

If your father/ brother, get hot under the collar, they need to understand who is in hot soup here. Apologies for being so direct. Best of luck.

Just as I had feared that the law favoring hospitals was enacted, this law is going to be misused left right and centre. The private hospitals especially are an unscrupulous lot already employing goondas and doing several illegal means to get payment and the regulation of private hospitals is ineffective at best and zero at worst.

OT : I am a doctor myself, before someone is offended by my statements.

1. Recording an incident on camera can't be taken as a provocation. Legal experts please clarify.

2. Second, the father and son were attacked. Would have been useful if they had gone and filed a complaint immediately. The ones who attacked shouldn't be made to go scot-free.

3. Such rumours must be proven with hard evidence.

The root cause is an inefficient useless police and legal system who don't have the skill and will to investigate any complaint fairly. The police system in India works primarily for those in power - politicians, high ranking govt officials and the rich and wealthy who can bribe the politicians and cops both. The addition to these are special interest groups - women friendly laws and these hospital friendly laws where a mere complaint by the former will lead to arrests without any investigation. No wonder both these laws are bound to be exploited and misused. Funnily enough, if someone powerful enough is involved, all these special interest groups are bound to lose out. Eg. The continuous incidences of rape that we are seeing in Uttar Pradesh where no women friendly laws haven't helped at all.

[pkulkarni.2106]

Folks, here's a question that everyone from our society is trying to get answer:

We bought flats in a society in Pune from a reputed builder.
Upon taking possession, we had to face numerous issues (several flooding incidents from adjacent nallah was one of the majors ones).
A few months back, the builder has registered the society and wanted us to take the handover. But given that the builder had some work pending, members did not want to take the society handover.
Note that builder was ready to sign an MoU wherein he was ready to take responsibility of damages due to design defects, fix them. The society would only have to bear regular AMCs and usual stuff.
But the members did not want to take any risks, and the society maintenance is still being looked upon by the builder.

Now comes the twist. The builder has developed an adjacent building for MHADA. There was one road leading upto that building, but the locals have encroached on that road and hence that particular building is now inaccessible.
Instead of filing police complaints against the locals and clearing the road, what the builder is doing now is - he broke one of the compound wall of our society and he is trying to make way to the concerned building through our premises.

Now the residents want to know how can we stop the builder from doing this.
Note that:
1. We have not yet taken the society handover
2. Things like conveyance deed and transferring the ownership of the land 7/12 are far from done (given that the handover is not yet done)

Can anyone who has knowledge of the legalities please advise what should the residents do now?

Thanks in advance!

[Kln]

Originally Posted by Ragavsr

Just as I had feared that the law favoring hospitals was enacted , this law is going to be misused left right and centre.

Sorry to be blunt, but being a doctor yourself, you should be aware of the rising incidence of grievous harm and attempts to murder against medical staff. No staff is going to tolerate unsolicited video recording - again a fact you should have been well aware of. They're government employees, they have nothing to gain by turning away citizens looking for vaccines. Every vaccination centers has been vaccinating thousands of people - if they wanted to "hide" vaccines as you say, they would've been doing it more frequently. There are strict protocols for each and every vaccine vial, and probably your father reaching at the end of the day meant they would probably have to let the remaing vial go to waste. Not saying the hospital is entirely blame free, but do have some consideration for people who've been doing it non stop in blazing heat since 8 hours. A little bit of perseverance and patience would've gone a long way.

In my little experience dealing with hospital management, I have found it most effective if you directly approach the management. Also, some sort of "pehechan" with the management may help. Considering the fact that you're a doctor, they may be willing to compromise. Try to get as many local level leaders involved as possible since it is a government hospital. I wish you all the best.

[Ragavsr]

Originally Posted by Kln

Sorry to be blunt, but being a doctor yourself, you should be aware of the rising incidence of grievous harm and attempts to murder against medical staff. No staff is going to tolerate unsolicited video recording - again a fact you should have been well aware of. They're government employees, they have nothing to gain by turning away citizens looking for vaccines. Every vaccination centers has been vaccinating thousands of people - if they wanted to "hide" vaccines as you say, they would've been doing it more frequently. There are strict protocols for each and every vaccine vial, and probably your father reaching at the end of the day meant they would probably have to let the remaing vial go to waste.

Before making a condescending comment , I would like to advice you to read who posted what properly.