Category: Allied Laws

Archive for the ‘Allied Laws’ Category


QUERY: Wakf and Religious Endowment
Please throw some light on "Muslim Wakfs" and "Religious Endowments under the Hindu Law" as one of the charitable purpose as there are no judicial decisions covering the said topic that have come to our notice.
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Mulla’s Mohammedan Law defines Wakf as “Wakf means the permanent dedication by a person professing the Mussalman faith of any property for any purpose recognised by the Mussalman Law as religious, pious or charitable.”

QUERY: Whether self acquired property of father or grandfather after coming into force Hindu Succession Act be treated as Joint Hindu Family?
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Hindu Succession Act, 1956, the separate property of the father inherited upon intestacy by the son is to treated as son’s separate property and not as the property of his joint family.

QUERY: An assessee wants to create a HUF with his wife. Is it possible to create a HUF with gift from the family members?
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A Hindu Undivided Family (HUF) is the normal condition of Hindu Society. The HUF with all its incidents is a creature of law and cannot be created by act of parties.

QUERY: What is the effect of Hindu Succession (Amendment) Act, 2005 in respect of right of daughter in HUF property?
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The Hindu Succession Act, 1956 has been amended in the year 2005 with a view to give daughter on birth, same right as a son on his birth. Consequently, the daughter has the right to be a co-parcener and also right to claim partition or vest her individual property in the HUF. These are important right hitherto denied to daughters, The amendment takes effect from September 9, 2005.

QUERY: The HUF ‘s pool is empty. It consists of husband & wife only. Can it be formed with gift from relatives etc.
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C. Krishna Prasad v. CIT [97 ITR 493], the Supreme Court clarified that family signifies a group plurality of persons is an essential attribute of a family

QUERY: A daughter of ‘A’ settled in U.S. (Green Card Holder) want to acquire house in US. for which Indian ‘A’ (parent) wants to remit 50,000/- US dollars from India. Is it required to obtain permission of RBI or any other Authority?
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No, as per Liberalised Remittance Scheme (LRS) updated as on August 2, 2017 vide Notification No. RBI/FED/2017-18, a resident individual through authorised dealer may remit up to USD 2,50,000 per financial year to any permitted current or capital account transactions or a combination of both. The scheme is not available to corporates partnership firms, HUF, trust. The permissible capital account transactions inter-alia, includes purchase of property abroad.

QUERY: Can a person accept notes of Rs. 500/- or Rs. 1,000/- after November 8, 2016?
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After midnight of November 8, 2016, notes of Rs. 500/- or Rs. 1000/- cease to be a legal tender, and therefore no person would accept the said notes except some places, wherein they have been considered as legal tender till the Government notifies i.e. at petrol pumps, hospitals, medical stores etc. So no person can raise a bill for supply of goods or services on or after November 8, 2016 for accepting notes of Rs. 500/ or Rs. 1,000/-.

QUERY: When my father was alive not only he prepared the will & bequeathed the residential flat to me exclusively, but also added my name in the share certificate of the society. So on his death the society deleted his name and my name which was second became first. After few days I added my wife's name as second and then both of us nominated our only child (i.e. married daughter), Now in above situation on my death who will become owner of the flat?

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There is difference between assignment and nomination. From the fact it is clear that you have nominated your daughter but you have not assigned your flat to your daughter.
To avoid any complication in future, it would be advisable that you should make a “Will” clarifying your intention. On your death “Will’ would prevail over your nomination [see Sarbati Devi v. Usha Devi (55 Comp Cases 214 (SC)] and Vishin Khanchandani v. Vidya Khanchandani [246 ITR 396 (SC)]

QUERY: As per F. No. 4-2/2014 –NCM., G.O.I. Ministry of Minority Affairs, dated February 6, 2014, Jain Community are covered under section 2(c) of National Commission of Minority Act 1992 as minority. So, can Jain continue with HUF under the Income-tax Act?
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There is no restriction on Jains to be assessed under the status of “HUF” under the Direct Tax laws, even though Jain community has been declared as a minority community.

No separate definition of the expression HUF has been attempted in any of the Direct Tax laws because the term has a definite connotation under the Hindu Law.

QUERY: Can the assessee call for information under R.T.I. Act for his case selected on manual basis i.e. the reason for selection of his case for detailed scrutiny?
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No, as per the Guidelines for Income tax scrutiny for financial year 2010/11 i.e. assessment year 2011/12 published on September 27, 2010, it has been clarified that: