Forum Replies Created
-
Posts
-
AOh, it is agricultural land. Sorry about your situation. Agricultural income is exempt from tax. Maybe you can find some large, educated farmer who has been showing his exempt income in ITRs and keeping his money white ?AWhat exactly do you mean by distressed property ?
The buyer is paying you above market rate only to exchange his black money with your black money. I wouldnt advise it but ultimately it is your decision.
AYou signed a contract. Unless the contract itself has an out , you can’t legally wriggle out of it.You can try to negotiate and offer to pay some money upfront to get out of the lease.
Last option is to just vacate and stop paying, but then you run the risk of getting sued.
AAgain, more details are needed. For example, receiving a property as a gift vs inheriting it have different consequences. If you get a property as a gift from someone who is alive, it becomes your self-acquired property. It is ancestral only if it is inherited. Again, please discuss in person in detail with a lawyer to figure out your options.ANot enough information, but, in general, self acquired property can be given to anyone without restriction. In the case of ancestral property, different laws apply. In the case of Hindus, Hindu Succession Act will apply. Best to meet a lawyer in person and have an interactive conversation with them so that they understand all the nuances and guide accordingly.ASo, you didn’t take a driving test ? People complain about corruption and yet when the govt does everything possible to remove it by moving the whole process online they still want to pay bribes for convenience. Sorry, but not sorryAVery noble thoughts, but if you are a lawyer, why are you working a job that needs you to be working at 6AM ? Why aren’t you practicing in court ?AWow, times have changed. In my time, it was perfectly normal for everyone to publicly ridicule the toppers when everyone’s results were put up on a physical notice board.AFirstly, if there is a quid pro quo involved, it is not considered a gift for tax purposes.I would never suggest going for an arrangement like this. Too many potential headaches can arise in the future.
ANot saying you weren’t cheated, but on their website they are clearly selling real estate backed investment options like debentures, not the land itself. I am not sure what your deal was, but looking at the website, I would have expected to receive a fixed return against a land backed loan, not buying the land itself.
