Month: December 2018

What is the right of the grandchild in the Self- acquired property of the Grandfather?

A grandchild does not have any birth right in the self- acquired property of his grandfather if it has been allotted to his father in a family partition in his capacity as legal heir and not as a coparcener under the Hindu Succession Act 1956. The grandfather can transfer the property to whoever he desires. …

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If a father gifts a property to his son or daughter, it is a self-acquired property.

An individual has several rights as a coparcener in an ancestral property. He is the joint owner of the property and if he wants his share, he can file a suit for partition. A coparcener can also acquire a separate property and at the same time has the right to give away or sell to …

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Tips to choose a child life insurance plan

Our children are our pride and joy. Becoming a parent not only brings boundless joy, but also a lifetime of responsibility. We want to give them the best, especially when it comes to their education and key future milestones. But with rising levels of inflation, cost of child education, medical expenses, and marriage expenses, the …

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Understanding Daughters’ Right To Property

After the amendment in 2005, every daughter, whether married or unmarried, is considered a member of her father’s HUF and can even be appointed as ‘karta’ (who manages) of his HUF property. Until the Hindu Succession Act, 1956, was amended in 2005, the property rights of sons and daughters were different. While sons had complete …

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What are the benefits available to a senior citizen and very senior citizen under income tax?

What are the benefits available to a senior citizen and very senior citizen in respect of tax rates? Senior citizens and a very senior citizen are granted a higher exemption limit as compared to normal tax payers. Exemption limit is the quantum of income up to which a person is not liable to pay tax. …

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