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Please advise urgently

Tax queries 392 views 1 replies

Dear Experts

 

I have a few queries

A) Is the settlement amount given against 498a IPC/406, CrPC 125 cases (considered as compensation to girl for her broken marriage, no matter if she got it by filing false cases) is chargeable?

 

B) Does the Istridhan come under wealth is not taxable as well? For example: istridhan 630 gm gold is given from Late mother to daughter 26 years before the marriage of daughter as per daughter's father statement. The income tax can do the assessment for 6 years. Income tax department says they can't do anything on istridhan. I wonder if there was any wealth tax 26 years ago and mandate to pay to Income tax as today Wealth Tax per person is Rs. 30 Lacs.

Is there any way we can make this chargeable?

 

C) Was there any amount limit in 2010 to purchase gold ornaments against cash? Current the limit is 5 lakhs which was raised from 2 lakhs in 2012. D) One property was booked and sold. The capital gain is 8 lakhs from the deal as per written statement but no sales deed is attached in support. How can we make it chargeable without sales deed or enforce to call the sales deed papers from the tax offender from Income tax standpoint.

 

E) hat is the significance of Notice 148 in the above case and how strongly it can go on the recovery of tax/ penalty proceedings?. Is there any other move which is more effective in recovery of tax/ penalty etc

 

I shall be highly obliged if you kindly clarify the above points

Replies (1)

A) Unfortunately, money given to wife or ex-wife toward settling the divorce case is non-taxable in her hands. It is widely known that most of these cases u/s 498A are false and a legal way to harass the husband and his parents. But the lawmaker refuse to amend the law and make it gender neutral. These laws uphold "guilty until proven innocent", and in such a situation the husband has no option but to give away most of his and his parent's wealth to the wife only to get out of this legal trap. Supreme court has called this, "legal terrorism".

 

B) I think wealth tax shall not recognise stridhan. Only the marriage act recognises stridhan.

 

C) I am not sure.

 

D) If a property is booked and sold, it shall be chargeable to income tax. You may ask the society to give you a copy of the sale deed because the flat owner is required to submit a copy of the sale deed to the society for completing formalities. 

 

I seems that someone is caught up in a false dowry case. You may consult a lawyer for this purpose or even saveindianfamily organisation who specialize in assisting husbands who are falsely accused and harassed by their wives. 


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