#and she respects for itr

[kata-kemi]

🔥Murisa - Eye of Fire - lvl 19 Monk I love my firebender monk (even she is more closer to a druid in The Plane of Fire) with supeority complex.

#dnd #murisa #zelda oc #dungeons and dragons #monk #dnd 5e #firebender #i love her very much and yes those are stars of selune #shes not religious bc she has very efreeti point of view of higher powerful beings but selune blessed her eloped marriage #and she respects for itr #even tho now... shes gonna reach level 21 bc my girl consumed power of a phoenix and went thru ascension #so she can handle the power of a volcano trapped in her chest #fire genasi #genasi

[tescholarship]

Graduate Scholarship For Philippines Students Open Now to Apply

Important Note: Scholarship applications will only be accepted after the applicant completes the graduate application process to his/her desired degree program. He/She will be required to provide his/her application reference number upon submission of his/her complete scholarship application documents. Graduate Scholarship

The Scholarship and Financial Assistance are available only for Masters and Doctoral Programs.

Also Apply : DOST-SEI Undergraduate Scholarship 2023 | Accepting Applications

Scholarship Application Procedures:

Due to the limitations brought about by the Covid-19 pandemic, the Office of Admissions and Scholarships now allows the submission of scanned copies of the required documents in PDF format through Google form of their respective colleges. The Google Form links are specified below:

Accomplish the St. La Salle Financial Assistance Grant google form under your College.

Brother Andrew Gonzalez College of Education (BAGCED)

College of Computer Studies (CCS)

College of Liberal Arts (CLA)

College of Science (COS)

Gokongwei College of Engineering (GCOE)

Ramon Del Rosario College of Business (RVRCOB)

School of Economics (SOE)

All new, incoming graduate students must be reminded that the application for scholarship is processed simultaneously with their application for admission.

Upload the scanned copies of the following documents to your College’s google form application link: .

A letter of request by the applicant for financial assistance addressed to: The OAS Director, Thru: The Associate Dean (except for the College of Engineering Grantees letter is addressed to: The OAS Director, Assistant Dean, Research and Advanced Studies (RAS). . Please refer to the link for the List of College Administrators: https://www.dlsu.edu.ph/offices/vca/; .

A photocopy of the applicant’s latest Income Tax Return (ITR) form. .

If married and filing income tax returns separately (or applicant is unemployed), include a photocopy of spouse’s latest ITR form; .

If single and unemployed, a photocopy of parent’s latest ITR form; If parents are NOT employed, a Certificate of Exemption from filing of Income Tax Return from the BIR or Certificate of Unemployment from the Municipal/Barangay Hall .

A Certificate of Employment with compensation details (if not available, please present a job contract or a one month copy of pay slip); .

A narrative letter of recommendation for financial assistance from the applicant’s present employer/superior; >> If unemployed at the time of application, a letter of recommendation from the applicant’s former faculty from his/her last school attended or previous employer/supervisor .

Photocopy of Transcript of Records. .

Wait for the results via email. .

For concerns and inquiries, please email [email protected] with the subject heading: SLS GS Application Concern (Term 2, AY2022-2023)

Application Deadline:

Term 2, AY 2022-2023ActivityDatesApplication for Scholarship (New, Current Students, and Scholarship Upgrade)30 September to 29 October 2022Online Release of Result07 January 2023

NOTE:

Submit all scanned copy of application documents via google form. The Office of Admissions and Scholarships (OAS) reserves the right to decline applications that have not met the criteria set by the Office.

Request for Upgrading your Current Grants:

Graduate Scholarship Grantees who have at least two (2) completed trimesters as scholars are eligible to apply for a Scholarship UPGRADE of their current grants during the application period. The scholar fills out the financial assistance form of their respective college and must submit the following requirements:

Brother Andrew Gonzalez College of Education (BAGCED)

College of Computer Studies (CCS)

College of Liberal Arts (CLA)

College of Science (COS)

Gokongwei College of Engineering (GCOE)

Ramon Del Rosario College of Business (RVRCOB)

School of Economics (SOE)

He/She writes a letter addressed to: The OAS Director, Thru: The Dean.

He/She attaches a scanned copy of grades of the previous terms.

Certificate of Employment with compensation details (if not available, please present a job contract or a one month copy of pay slip);

Eligibility/Retention Policies

Enrollment in 6 units per term under a program on a continuing basis

Maintenance of a trimestral average of “2.5” (for MA/MS program grantees) or “3.0” (for doctoral program grantees)

Compliance with the guidelines set by the University Scholarship Council.

Contact

For concerns and inquiries, please email [email protected] with the subject heading: SLS GS Application Concern (Term 2, AY 2022-2023)

For inquiries and concerns, please send a ticket to The Concierge through this link: https://theconcierge.dlsu.edu.ph/support/tickets/new

On Going Scholarships:

Bangon Marawi Scholarship Open now to Apply

U-Go Scholar Grant is Now Open To Apply | Ayala Foundation

St. Mutien Marie Scholarship Grant (Graduate)

DOST-SEI Undergraduate Scholarship 2023 | Accepting Applications

GSIS Educational Loan Online Application | GSIS LOAN

#Scholarship #scholarships #education #philippines #philippines students

[murfeelee]

Ranking ALL the Sims 3 Expansion Packs - tonitalks

WOW, Tonitalks and I have a lot of similar ideas about the TS3 EPs! ❤️

It’s like, on one hand, every TS3 EP is amazing (especially when compared to the pittance being sold in TS4′s EPs). But on the other hand, EA really dropped the ball in areas where it should have really gone further to expand core gameplay. Even the best EPs had glaring flaws, and tend to fall short of things TS1/TS2 did better. But on the whole, what we got was just enough to keep the TS3 fandom alive even 11 years later. Bless.

MY THOUGHTS (under the cut):

(Unless Tumblr’s flagged it, I could’ve sworn I made an updated Best/Worst post ranking all the TS3 EPs. But the only one still on my blog is my old one I made before I bought all the EPs, though it mostly still aligns with how I feel.)

Toni S A B C D F ranking system is mostly based on which packs have the most content and varied things things to do. Toni’s S A B ranks are her must-owns, while the C D F ranks are her most disappointing games.

S: Generations, Supernatural

Toni’s only complaint about GEN is the Imaginary Friends lifestate, which: same. Frikkin creepy. But the rest of GEN is a MUST-OWN for kids & elders.

And finally! A reviewer giving Supernatural the respect it DESERVES! ^0^ SN was stuffed to the brim; SO much content! Granted, it’s no Makin Magic, and I personally was underwhelmed by Moonlit Falls, as I like Midnight Hollow and Dragon Valley WAY more, but SN is still my favorite TS3 EP, regardless. Anyone who loves the “weird, wonderful and magic“ side of The Sims NEEDS SN. 💯💯💯 (Just make sure to mod the Zombies out or adjust your lifestate settings; whatever works to get rid of them.)

A: Seasons, University

Seasons is an excellent pack--Toni wanted a new world, which: same, but there’s just an ungodly amount of new content in SSNS, it’s the best and most well-made TS3 EP, period. 

To this day I’ve NEVER sent my sims to UNI. I hate school IRL, so unless my sims are going to effing Hogwarts I have no desire to ever bother with the school crap. Toni doesn’t like the 3 social groups, but I actually LOVE them. Almost all of my sims are either Rebels or Nerds. Crazy enough, I love the amount of new content UNI added, I just never use it for my sims’ schooling. I love the radio station, weather machine, whiteboard, skeleton set, etc etc.

B: World Adventures, Pets

For Toni, the main complaint for WA is basically the repetitiveness of the tombs, and their lack of replayability. Yes, technically this is true, as WA veers dangerously close to where TS4 went wrong with all the storyline GPs, as if they’re Castaways or The Sims Medieval. The main difference though is that we can create/download as many new tombs as we want, which 100% keeps WA fresh and interesting for me. But yes, It’s an excellent pack, which is crazy considering it’s the first one for TS3.

Toni's biggest criticism for Pets is how high maintenance horses are, which YES. Unless your sims are rich and own a lot of property, horses are almost impossible to own...but that’s how horses are IRL anyway, so IMO I don’t see that as a negative. The only problem is when you want horses in CC worlds that are too small, where you can't fit in enough 64x64 lots. (So it’s no surprise TS4 didn’t even bother. 🙄 )

C: Ambitions

Toni felt that more could’ve been done with the professions & careers, which, YES! Too many rabbithole careers, and not enough interactions. I freaking love that they added professions with playable firehouses and private investigators, but I too wish that every career could just be opened up; I hate rabbitholes. And she thought Twinbrook was meh, but I think Twinbrook’s one of the better EP worlds. (The Store worlds are where it’s at, though -- eff most of the EP worlds, tbh.) Overall I really really like AMB; it was headed in the right direction, though I can see where it could’ve easily let people down who were expecting a lot more from the professions/careers. (EA obviously learned NOTHING from AMB’s feedback, considering what Get to Work did....)

D: Showtime, Island Paradise, Into the Future

Showtime: Toni said “what was this game?“ 😂The Genies were a poor fit, the professions should’ve given us WAY more, there’s no acting career in “Hollywood,“ etc. Exactly. Not to mention the dumpster fire that was Simport. But I have a love/hate relationship with SHT. I actually treat SHT the way I do UNI & IP -- I really like the side content it added; I just never bother with the core game mechanic: superstardom, schools, and underwater. That makes 50% of the game useless for me, which is why I always get EPs on sale. ^_^

I agree with Toni that Island Paradise should’ve been like World Adventures, with different vacation locations. It could’ve been more like Castaways, with Tiki/Polynesian/Melanesian islands, Asian islands, Caribbean islands, Mediterranean Islands, etc. Plus, both of us didn’t like the mermaid system. Making them requires too much effort for them to not do all that much underwater. But to be fair, IP added A LOT Of new content. For what it did add, there is an impressive amount. Island Living sure can't say the same! 🤣

Into the Future however.... I understand why Toni was so hard with this pack. Trust: I ran the main thread at the officials that asked for a Time Travel expansion, so ITF holds a very special place in my heart, cuz EA for the most part kinda listened? ITF is awesome. It added some super cool content that I use religiously; ITF’s one of my top 3 EPs. But yeah, choices were made that had me like WTF?? Toni wanted ITF to be more hi-tech, which SAME! I wanted more of a Star Wars Blade Runner cyberpunk neon metropolis, and a steampunk/dieselpunk industrial dystopia. I have no idea where TF that “utopian” Willy Wonka zany Hunger Games nonsense came from. It was kinda retro-futuristic Jetsons Star Trek TOS in a way, which I like, but...? Choices. EA definitely could’ve done more with ITF, for sure. IMO itr needed to be more like WA, too. U_U

F: Late Night - I hollered! 😭

Y’all know I effing hate Late Night. Only reason I keep it installed is for the musical instruments & highrises. It’s certainly no Apartment Life, and it’s definitely no Night Life, but it’ll do in a pinch. The obnoxious Celebrities/Paparazzi, Twilight vampires, cramped Bridgeport...no thanks. Especially with Boroughsburg out here just SHAMING EA. SHAME! I wish someone would remake Bridgeport as a cyberpunk world, that would be awesome. Otherwise most of LN is useless to me. :\

_________________________________________________________

TL;DR

So basically, if I were to follow Toni’s S A B C D F ranking system, and classify TS3′s EPs based on its content quantity, and EA’s dedication to thematic cohesion, my list would be as follows:

S: Generations, Seasons, Supernatural

All radically overhaul the core mechanics of the game/world itself: age states, weather, and lifestates/occults.

A: World Adventures, Pets

World Adventures added 3 new worlds and cultures; and Pets added animals. It’s just arguable whether EA should’ve done more with them all or not.

B: University, Island Paradise, Into the Future

Chock-full of new activities & skills, but your mileage may vary.

C: Ambitions (AMB didn’t really come with as much as it should have)

D: Showtime (SHT included a lot, but not much of it made thematic sense)

F: Late Night (LN needed to commit to what makes a celebrity--music/movie/fashion/etc CAREERS--rather than the hollow lifestyle of a celeb)

#simblr #ts3 #the sims 3 #videos

[advashishfule-blog]

Registration of Political Party in India

Registration of political parties is governed by the provisions of section 29A of the Representation of the People Act, 1951. A party seeking registration under the said section with the Election Commission of India has to submit an application to the Commission within a period of 30 days following the date of its formation in prescribed format with certain basic particulars about the party such as name, address, membership details of various units, names of office bearers, etc, as required under sub-section (4) of the said section, and such other particulars as the Commission may specify under sub-section (6) of Section 29A of the Representation of the People Act, 1951.

Registration of political parties is governed by the provisions of section 29A of the Representation of the People Act, 1951.Party seeking registration under this Act requires to submit certain documents as per guidelines of the election commission of India . Generally party seeking registration requires to submits various resolutions , Pan card copy of office bearer alongwith their ITR returns of last three years , party’s constitution, individual affidavits , Affidavit of Asset and liabilities and criminal antecedents affidavit and lastly affidavit of the president . Commission also asked for publication of the notice in news papers and after the same they conduct the hearing for registration . Finally after the hearing and satisfaction of the commission your party gets registered .

1) A Demand Draft of Rs. 10,000/- (Rupees Ten Thousand only) on account of processing fee drawn in favour of the Under Secretary, Election Commission of India, New Delhi. It may be noted that the processing fee is non-refundable.

2) A neatly typed/printed copy of the memorandum/rules and bye-laws/Constitution of the Party containing a specific provision as required under sub-section (5) of Section 29A of the Representation of the People Act, 1951 in the exact terms, 3 which reads (Name of the party) shall bear true faith and allegiance to the Constitution of India as by law established, and to the principles of socialism, secularism and democracy and would uphold the sovereignty, unity and integrity of India. The above mandatory provision must be included in the text of party constitution itself as one of the clauses. As per provision to sub-section (7) of the said Section 29A of the Representation of the People Act, 1951, no association or body shall be registered as a political party unless the memorandum, rules and regulations or the constitution of such association or body conform to the above referred provision of sub-section (5) of Section 29A.

3) There should be a specific provision in the rules/Constitution of the party regarding internal democracy in the party, organisational elections at different levels, mode of such elections and the periodicity of such elections, term of office of the office-bearers and powers and duties of the office-bearers of the party, and the various representative bodies of the party (such as Executive Committee, Council etc.)

4) Besides these particulars, procedure to be followed in the case of merger/dissolution of the Association, amendment in Party Constitution and disciplinary action against erring members of the party should be provided in the bye-laws. There should be clear provision in the party constitution about membership of the party. There should not be any discrimination in the matter of membership.

5) Extracts from the latest electoral rolls in respect of atleast 100 members of the organisation (including all office-bearers/members of main decision making organs like Executive Committee/Executive Council) duly certified by the Electoral Registration Officer of concerned assembly constituency to show that they are registered electors. Alternatively, photocopies of Elector Photo Identity Cards (EPICs) of the members duly attested by a Gazetted officer or Notary should be submitted.

6) An affidavit duly signed by the President/General Secretary of the applicant party and sworn before a 1st class Magistrate/Oath Commissioner/Notary Public to the effect that no member of the organisation is a member of any other political party registered with the Commission

7) Individual affidavits from atleast 100 members of the party to the effect that the said member is a registered elector and that he is not a member of any other political party registered with the Commission. These affidavits should be on Stamp Paper of atleast Rs. 2/- denomination and duly sworn before a 1st class Magistrate/Oath Commissioner/Notary Public. These affidavits should be from those persons in respect of whom certified extracts of electoral rolls

8) A list of office bearers and members of the party mentioned in (vi) and (viii) above, should be submitted and the certified copy of electoral rolls or EPICs and individual affidavits should be enclosed as per the sequence of the list.

9) Particulars of Bank account and Permanent Account Number (PAN), if any, in the name of the party should be furnished.

10) The applicant party has to produce a No Objection Certificate , in the form of an affidavit on stamp paper, from the owner of the premises where the party office is situated with certified copies of tangible proof, such as House Tax Receipt or Registry papers, etc. , of ownership of the premises.

11) The applicant has to attach a ‘No Objection Certificate’ from the Local Body, Municipal Corporation etc. to the effect that there is no prohibition under the rules and regulations of the authority to set up political party office in that building where the party office is situated.

12) Separate Affidavits from the office bearers of the main organs of the applicant party in respect of their Assets and Liabilities have to be furnished.

13) The office bearers of the applicant party have to furnish a copy of their Income Tax Returns filed for the last three years, if they are Income Tax payees. In case any office bearer is not Income Tax payee he/she has to furnish certified details of his/her monthly income alongwith source of income.

14) The details of PAN Card have to be furnished in respect of office bearers of the party.

15) Affidavits from the office bearers of the main organs of the applicant party showing information about their criminal antecedents have to be furnished in affidavit form.

16) The applicant party must submit authenticated proof to show that the party constitution has been adopted by the General Body of the party.

17) The applicant party must declare in its constitution that it shall submit its audited annual financial statement to the Commission within a period of 60 days after the end of each financial year.

18) The applicant party must ensure in its constitution itself, vide a specific clause in the party constitution that the party will not, in any manner, promote or instigate or participate in violence.

19) The applicant party must ensure in its constitution itself vide a specific clause in the party constitution that party will hold periodic (Period to be specified in constitution but at least once in 4 years) and regular election to all positions of office-bearers and organs of the party.

20) The applicant party must ensure in its constitution itself vide a specific clause in the party constitution that any amendment to the constitution must be approved by the General Body of the party.

21) The party must declare in its constitution that it must contest an election conducted by the Election Commission within 5 years of its registration. (If the Party does not contest elections continuously for 6 years, the Party shall be taken off the list of registered parties).

Adv Ashish Fule ,

(Advocate dealing in Registration of Political Parties and their compliance)

Contact : 9960560233 Email Id: [email protected]

#politics #PoliticalPartyRegistration RegistrationOfPoliticalParty PoliticalParty #partyregistration #HowToregisterPoliticalParty NewPoliticalParty ListOfPoliticalParty

[armageddon-generation]

Improving Resolution

This was the best Chibnall ep of the series imo, but some parts were rushed, the Dalek design was naff and we never got the full-on emotional weight and epicness 13 deserves

Fixing Series 11 here

Change how the Dalek got split.

Medieval humans killing a Dalek on their own is ridiculous and makes itr less threatening. Instead, have the Dalek be a scout from the Time War, looking to attack Earth to distract the War Doctor. The Doctor, furious, rushes over and helps the human armies divide it, to stop the Time War spreading to his second home.

We’re told this legend by the archaeologists, positioning the Doctor as a vengeful wizard. We can get a flashback with the War Doctor as a dark silhouette on a hill or something.

This makes the “it’s personal” stuff even truer

Use the archaeologists and dig site to expand on the Dalek race’s impact on humanity, because they’ve visited Earth dozens of times. I’m thinking wall paintings depicting the Dalek Shell as a Divine war chariot, and the mutant as a Cthulhu-like God

This way we’re really throwing Team TARDIS in the deep end - they are immediately aware of the number of times the Doctor has fought the Daleks, which is completely different to the rest of series 11, where 13 was encountering everything for the first time

Change the junkyard Dalek shell.

The Scout goes to a storage facility where pieces of its shell are stored. Now this place is owned by the modern incarnation of the cult we’ve set up who worshipped the Dalek in ancient times (their logo is the same symbol found on the wall paintings)

Instead of killing the gay (AGAIN), have the company staff welcome and exult the Dalek - only for it to turn around and kill them all, establishing its racial superiority complex. (This is something Chibnall glossed over - his Dalek wanted to conquer like anyone else, not exterminate)

The company has collected the remains of dozens of different Dalek models from invasions across the show’s history (we still have the parallel to 13 making her Screwdriver)

The Dalek reassembles itself not using Earth metal, but into a Frankenstein’s monster welded together from different Dalek designs (classic 60s, Imperial, Special Weapons, Time War, Supreme, Progenitor)

When the Dalek and 13 face each other this one Scout now represents the entire Dalek race, every type the Doctor has ever fought. The idea of it stitching itself together is also a nice parallel to Regeneration

Destroy the Dalek by separating all the different sections - use Ryan’s dad’s technical skills but don’t have all of Team TARDIS rush the Dalek without getting killed - them pushing it around immediately removed any threat.

Emotional Impact

Seeing the remains of all the Daleks the Doctor has killed at the storage facility and hearing the stories of the War Doctor makes Team TARDIS reconsider 13

Police officer Yaz realises she is devoted to a murderer, and considers whether she wants to get closer to such a person

To make the Dalek more impactful to both Team TARDIS and the new audience that has only watched Series 11, when Graham asks why it’s so dangerous have 13 say something along the lines of “the Daleks are my Stenza”

Graham realises why 13 stopped him killing Tim Shaw in series 11, and (considering his Dad must’ve fought in WW2) gains a new level of respect for her

Don’t have Ryan immediately forgive his Dad and declare that he loves him - set up that he’s willing to give his Dad a second chance as an arc for series 12 - the push and pull between Graham and Ryan reconnecting with his Dad

The Scout is trying to complete its original mission, bringing the Tile War to Earth - 13 has to  literally defend her freinds from the ghost of the War and finally let go of her violent past (personified by the War Doctor). She’s also letting go of the deified, Messiah-like version of herself (represented by the wall paintings of the Doctor’s battle with the Dalek) that RTD and Moffat loved

13’s arc is worrying learning about the Daleks and their toxic relationship will change the way her friends look at her, because she’s been trying to protect them from this side of her life (it’s revealed she’s been deliberately avoiding places she’s been before because she’s looking for a fresh start)

By now Ryan and Graham are getting along fine, they’ve avenged Grace’s murder and Ryan is now talking to his Dad. 13 worries everyone has outgrown her, and they’ll leave

Have a scene at the end where Yaz comforts 13 and assures her she won’t abandon her - 13 doesn’t need to save their lives for them to want to travel with her - it’s their job to save her. They are here because they care about her. 

This way we get a new emotional climax of 13′s emotional arc and reaffirm the status-quo for Series 12

#doctor who #the doctor #13th Doctor #dw series 11 #resolution #new years special #dalek #thasmin #yasmin khan #graham o'brien #ryan sinclair #thirteenth doctor #chris chibnall #dw #bbc dw

[legalwindowjai]

ITR Filling in Jaipur

https://www.legalwindow.in/itr-filing-for-individuals/ Personal ITR filling

Any individual earning an income above the minimum exempted amount is liable to pay income tax. The income can be earned from any source like salary, rental income, interest income from savings, income from mutual funds, agriculture income, sale of property or business, or professional income.

Income Tax Return is a form required to be filed with Income Tax Department. The format and applicability of these forms are defined by Income Tax Department. All forms have separate disclosure requirements according to the Incomes Reported.

Income tax rates are finalized in the Union Budget before the start of the financial year. From Assessment Year 2021-2022, the concept of new tax regime and old tax regime has also been introduced.

The government has given the option to choose between the new and old tax regimes to the taxpayers. The basic concept behind these regimes is that if you do not have investments etc to claim various deductions/exemptions under Sec.80 then you can opt for a new tax regime and pay taxes at lower rates.

Legal Window offers best services for ITR filling in Jaipur

A person who chooses to opt for a new tax regime cannot claim the following deductions-

Certain allowances like LTA, HRA, allowances granted to meet expenses in the performance of duties of the office. Deductions under salary like Standard Deduction, Entertainment allowance, and Professional tax. Interest payable on borrowed capital for self-occupied property. Standard Deduction in case of family pension. Several deductions are available under Sec.80 like life insurance, health insurance premium, pension funds, provident fund, donations, etc.

The option to avail of the option can be taken while filing the Income Tax Return. Our Team will help you assess the beneficial option for you so that you can get maximum tax benefits.

This Return Form is to be used by an individual who is a resident other than not ordinarily resident, whose total income for the assessment year 2021-22 does not exceed Rs. 50 lakh and who has income under the following heads:-

(a) Income from Salary/ Pension; or

(b) Income from One House Property; or

(c) Income from Other Sources.

(d) Agricultural Income (Up to INR 5,000)

  A. Salary/Pension: 

Salary refers to the remuneration/consideration that a person receives for the services that he/she renders under a contract of employment. For an amount to be considered salary, the existence of an employer-employee relationship is a must. As per the Income Tax Act, 1961, the following are included in salary income:

  wages;

    annuity     or pension;

    gratuity;

    fees,     commissions, perquisites, or profits instead of or in addition to any     salary or wages;

    advance     of salary;

    payment     received by an employee in respect of any period of leave not availed of     by him;

    annual     accretion to the balance at the credit of an employee participating in a recognized     provident fund

    aggregate     of all sums that are comprised in the transferred balance in a recognized     provident fund, 

    contribution     made by the Central Government or Employer under a pension scheme referred     to in section 80CCD;

     B. One House Property 

If the taxpayer is the owner of a property from which he/she is earning rent, the rent proceeds become taxable. However, if the taxpayer is using the property for running some business or profession, the same would be taxable under the heading “Income from Business or Profession.”

 C. Other sources

This includes Interest, dividend income but does not include income earned from winning lottery or racehorses

 D. Agricultural Income 

The agricultural income should not exceed INR 5,000)

 Income Tax Rates for Individuals (AY 2021-22)

 Income

Up to 60 years of age

Up to Rs 2.5 Lakhs

Nil

Rs 2.5 Lakhs – Rs 5 Lakhs

5%

Rs 5 Lakhs – Rs 10 Lakhs

20%

Above Rs 10 Lakhs

30%

Note: A resident individual having taxable income up to Rs 5,00,000 will get a tax rebate of Rs.12,500 or the amount of tax payable (whichever is lower)

  Income

Between 60-80 years of age

Up to Rs 3.0 Lakhs

Nil

Rs 3.0 Lakhs – Rs 5 Lakhs

5%

Rs 5 Lakhs – Rs 10 Lakhs

20%

Above Rs 10 Lakhs

30%

Note: A resident individual having taxable income up to Rs 5,00,000 will get a tax rebate of Rs.12,500 or the amount of tax payable (whichever is lower)

  Income

Above 80 years of age

Up to Rs 5 Lakhs

Nil

Rs 5 Lakhs – Rs 10 Lakhs

20%

Above Rs 10 Lakhs

30%

 New Tax regime from AY 2021-22

An option to pay lower tax shall be available only if the Income is calculated without claiming the following exemptions and deductions:

Exemption &  Deduction are not allowed

Exemption &  Deduction allowed

Leave Travel  Allowance (LTA)

Transport  Allowance in case of a specially-abled person

House Rent  Allowance (HRA)

Conveyance  Allowance to meet the conveyance expenditure incurred as part of employment

Conveyance  Allowance

Any compensation  received to meet the cost of travel on tour or transfer

Children  Education Allowance

Deduction under  80CCD(2)

Standard  Deduction on Salary

Deduction under  section 80JJAA

Professional Tax

 Interest on  Housing Loan

 Deduction under  chapter VIA –

80C – Insurance premium  etc

80D – Medical  Insurance

80E – Education  Loan 

 Special Rate under New Tax regime for Individuals & HUF (AY 2021-22) 

Income

Rate of Tax

Up to Rs 2.5  Lakhs

Nil

Rs 2.5 Lakhs – Rs  5 Lakhs

5%

Rs 5 Lakhs – Rs  7.5 Lakhs

10%

Rs 7.5 Lakhs – Rs  10 Lakhs

15%

Rs 10 Lakhs – Rs  12.5 Lakhs

20%

Rs 12.5 Lakhs –  Rs 15 Lakhs

25%

Above Rs 15 Lakhs

30%

 Our 3 Step Simple Process

Engagement & Consultation

Information Collection & Documentation

Filing & Closure

Why should you file Income Tax Return?

Makes you a compliant citizen

Avoid notices from the IT department and Claim Refunds

Document proof of creditworthiness

Avail tax benefits on past losses and Avoid penalties and late fees

Easy availability of bank loans and Carry forward of losses

Obtaining Government tenders/approvals and Visa Processing

Documents Required for Income Tax Filing

·       Form-16

·       Form 16A/16B/16C

·       Salary Slips

·       Interest certificates from Post Offices & Banks

·       Form 26AS

·       Tax-Savings Investment Proofs

·       Deductions under Section 80D to 80U

·       Home Loan statement from NBFC/Bank

·       Capital Gains

·       Aadhaar Card

·       PAN Card

[charteredaccountantjanakpuri]

Why is Filing Income Tax Return Important?

Have you ever wondered why does an individual file his Income Tax Return? Simply, people earn some income during a particular year and generally make couple of investments in various schemes and undertake several expenses related to their business or profession. On such income earned by the individuals, they need to pay some amount of tax to the government. Hence, in order to declare the income and make such payment of tax, the Income Tax Return is filed.

 However, it’s not that you can file the Income Tax Return only if you have to pay taxes. You can voluntarily file it, rather, you should voluntarily file it as there are numerous benefits attached to the same. Let's have a look at the conversation between Arun, Tax Consultant (Fictional Character) and Rohit, a businessman (Fictional Character) to have a better understanding on the basics and importance of filing ITR.

 Rohit:      Arun, what is an ITR?

 Arun:   Income Tax Return, i.e. ITR, is a form that a person has to submit to the Income Tax Department. It contains information about a person’s income and the taxes to be paid on it during the year. Information fed in ITR should pertain to a particular financial year, i.e. beginning on 1st April and closing on 31st March of the following year.

 Rohit:   Okay, who all individuals need to file ITR?

 Arun:   Rohit, firstly you need to know who is referred to as an individual as per the Income Tax Act. Individual refers to the natural human being, whether male or female, minor or major. An individual's gross total income comprises wages, salaries, dividends, interest, business income, and any other income he earns throughout the year.

 It is obligatory to file income tax returns for all resident individuals of India whose total income is above Rs. 2.5 lakh after eligible deductions and are below 60 years of age. Individuals of the age of 60 and 80 or above are required to file their ITR if their net income is more than Rs. 3 lakhs and Rs. 5 lakhs, respectively. Individuals having income below the basic exemption limit are not required to file ITR by law.

 Rohit:  Oh! Is filing ITR important only for declaring income to the Income Tax Department or there are some other benefits too.

 Arun:  The filing of income tax return is not only for the purpose of declaring earnings to the Income Tax Department and paying taxes, but it allows you to avail other benefits too, that can be advantageous for you in the short and long-term.

 Rohit:  All right! Can you sum up some advantages of filing ITR?

 Arun:  Sure Rohit!

 Some of the benefits of filing income tax return are:

 ITR receipt acts as a very important document

ITR receipt acts as a proof of Income of a person and of payment of taxes. It is much more detailed than Form 16. It contains details of the total income, including details of income from respective sources.

 Ease in claiming tax refunds

 It is very important to note that one can claim a tax refund only if he is filing an income tax return after claiming all the eligible deductions for that financial year. Therefore, if you are a salaried person who is getting salary after deduction of TDS, or if TDS is getting deducted on interest income of your fixed deposits, or TDS is getting deducted in any other way, it is essential to file your ITR to claim a refund of the tax deducted, if any, which is reflected in your Form 26AS.

 Ease in getting loan approvals

 Filing ITR helps individuals when they have to apply for a vehicle loan, house loan, etc. The majority of banks ask for the copy of income tax returns of last couple of years as proof of income statement of a person. This serves as a mandatory document for the loan approval.

 Adjustment of losses of previous years

 Filing ITR on or before the due date enables the individual to carry forward losses to subsequent years, which ultimately get set off against the income of subsequent years. This means deduction of certain losses from the relevant income helps the individual reduce his future income tax liability. This is only possible if one files his ITR.

 Quick processing of VISA

 Many embassies require an individual to furnish copies of his tax returns for the past few years at the time of the application for a visa. These are amongst mandatorily required documents and hence it is always advisable to timely file your ITR.

 Saves from Penalty and Prosecution

 Evasion of taxes and late filing of ITR carry penalties around the world, including India. Therefore, filing income tax returns and doing so on time save an individual from unnecessary difficult situations with the Income Tax Department.

 Rohit:   Oh, so many benefits! See, I want to file my ITRs for all the earlier years for which I have missed so that I can also avail all these benefits. Please let me know the procedure for the same.

 Arun:   No Rohit, now you cannot file your ITR for earlier years. Now, you can file your return only for last year as a belated return. The due date for filing a belated return is 31st December following the relevant financial year.

Rohit:  Okay, tell me one more thing Arun, my wife is a homemaker. Does she also need to file the ITR?

 Arun:   See, if she is earning income from any source and such income during the financial year is more than the basic exemption limit applicable to her, then she has to file the ITR. But, if she is not having any income or her income is less than the basic exemption limit, then it is not mandatory for her to file the return. However, as I mentioned, it would be beneficial for her if she voluntarily files the same.

 Rohit:   Okay Arun, please let me know, what are the documents required to file ITR?

 Arun:   Rohit, generally, the following documents are required to file an income tax return:

 PAN Card

Aadhaar Number

Income Tax Login credentials

Bank Statement

Investment proof for claiming deductions

TDS certificates (Form 16 or 16A)

Records of Sale or Purchase of Assets/Investments

Proof of payment of insurance premium, PPF, purchase of NSCs, Mutual funds, donations etc.

 Rohit:   What is e-verification of ITR, and how is an ITR e-verified?

 Arun:    An ITR is e-verified through an e-verification code. Electronic Verification Code (EVC) is a code sent to the registered mobile number of the tax filers while filing their returns online. It helps to verify the identity of the tax filers. An EVC can be generated through the e-filing portal of Income Tax Department.

 After successful e-verification of ITR, a taxpayer is not required to send physical ITR-V to Bangalore for further processing. Your ITR can be verified electronically through any of the following means:

 Via Aadhaar OTP

Via net banking

Via EVC on the Income Tax website

DSC

 Rohit:   Are any proofs required to be attached while filing the ITR?

 Arun:   No, taxpayers are not required to attach any documents while filing an income tax return. However, the taxpayers should keep it carefully to provide to the department if needed in case of scrutiny or any assessment.

 Rohit:   What are the due dates of filing ITR?

 Arun:   Since, you are an individual, let me tell you the due date applicable to you. The last date of filing Income Tax Return is generally 31st July following the relevant financial year. However, for financial year 2020-21, CBDT has extended the due date to file the Income Tax Return of the Individual Taxpayer to 30th September, 2021.

 Rohit:  Okay Arun, now I have understood the basics of ITR filing. Any other point you want to add?

 Arun:   So, Rohit, let me summarize why you should timely file your ITR. You must file your return and pay due taxes to the government to be a responsible citizen of India. Also, if you are liable to file ITR, then in order to save yourself from any penalty proceedings to be initiated against you, you must file your return within due date. In case you are not liable to file ITR, then also you should file your return to avail the benefits that I mentioned earlier.

 Rohit:  All right Arun! Thank you so much for clarifying my doubts…

 Note: The due dates mentioned in the article are according to the Income Tax Act, 1961. However,    these are subject to change as per the notifications and circulars issued by CBDT from time to time.

 Authored by CA Rahul Pareva, assisted by Kriti Agrawal

For any queries or suggestions, email at [email protected]

 About the Author and Firm

 CA Rahul Pareva possesses experience in litigation and advisory matters. He has been representing various clients before Tax Authorities. He is associated with Manish Anil Gupta & Co., CA in District Centre. MAG is renowned tax and *audit firm in Delhi* where clients complexities are transformed into solutions

 Disclaimer! This article is meant purely for knowledge and educational purposes. It contains only general information and references to legal content. It is not legal advice, and should not be treated as such..

 Source: https://www.manishanilgupta.com/blog-details/why-is-filing-income-tax-return-important

#Income Tax Return #ITR

[swedna]

Promoting a transparent and fair tax regime, Prime Minister Narendra Modi on Thursday unveiled ‘taxpayers’ charter’ on Thursday, enshrining rights of assesses in a statute under the Income tax law. With this, India joined ranks with a handful of countries like the US, Australia and Canada that have such a provision in their law.

With the launch of ‘Transparent Taxation — Honoring the Honest’ platform, Modi also unveiled faceless appeal and expanded the scope of faceless assessment, eliminating physical interface between taxpayers and tax authority. It does away with territorial jurisdiction and substitutes individual discretion with team-based assessment, thereby bringing in transparency.

“This platform has big reforms like faceless assessment, faceless appeal and taxpayers charter big reforms. It will help reduce government interference. Our effort is that the tax system should be seamless, faceless and painless,” Modi said in his inaugural address via video conferencing.

Finance Minister Nirmala Sitharaman said that the platform brings in a transparent, efficient and accountable tax administration. “It uses technology, Data Analytics and Artificial Intelligence,” she said.

While faceless assessment and Taxpayers’ Charter came into effect from Thursday itself, the facility of faceless appeals will be rolled out from September 25.

Announced in the budget for 2020-21, Taxpayers’ Charter is aimed at promoting voluntary compliance by creating trust between taxpayers and the administration. Giving it in the statute, it is binding on the tax department. The Charter lists out the fundamental rights of taxpayers and basic standards of services that they should expect. The department will be expected to provide services that are fair and efficient. It aims to change the relationship between taxpayers and the tax department from being an enforcer to a facilitator.

“Taxpayers’ Charter is a big step in the development journey of the nation. It is a big step in bringing together rights and duties, and clarifying government's responsibilities towards the taxpayer. The charter ensures dignity of the taxpayer,” said Modi in his address via video conferencing.

India’s Taxpayers' Charter has enforceable rights like a time bound process for dealing with the taxman, a laid out redressal mechanism, respecting privacy and maintaining confidentiality. The Taxpayers' Charter also lists out the obligations of the taxpayer or citizens towards nation building.

Faceless assessment facility was extended to the entire country on Thursday, ending territorial jurisdiction and individual discretion, where an officer was the whole and sole to the assessee.

“Under this system, an income tax officer will not get an opportunity to harass a taxpayer. Now, scrutiny will be allotted on a random basis. Assessment of a taxpayer in Mumbai could well be carried by an officer sitting in Chennai. It will put an end to needless litigation. In addition, the appeals mechanism will also be faceless,” said Modi.

The I-T Department had rolled out the faceless e-assessment scheme in October last year, covering Mumbai, New Delhi, Kolkata, Chennai, Bengaluru, Hyderabad, Ahmedabad, and Pune. Communication to the taxpayer goes from the National e-Assessment Centre (NeAC) in New Delhi. The NeAC randomly allots cases to different assessment units. These assessment units do not correspond to the taxpayer directly.

Of the over 58,000 cases picked up for faceless assessment, 8,700 have been disposed of, with a target for completion by October. Faceless e-assessment.

Abhishek Rastogi, partner, Khaitan and Co said that while the faceless assessment is a great beginning, there could be various challenges in terms of the appropriate explanation which needs to be understood by the person assessing the tax liability. “It is hoped that the new system will provide appropriate opportunity for the taxpayer to explain the complex transactions and get a fair order in a time bound manner”, he said.

Archit Gupta, founder and CEO, Cleartax said that although the tax charter is based on easing compliance for all taxpayers, the policy announcements must also reflect in the functioning of tax administration. “Tax officers need to be trained and focus needs to shift from merely raising tax orders to supporting taxpayers and truly streamlining assessments,” he added.

Modi added that over the last six years, the income tax department has reduced complexity, lowered taxes, reduced litigation, increased transparency, tax compliance and trust on the taxpayer.

Scrutiny by the department reduced to 0.25 per cent of all Income Tax Returns (ITRs) in AY19, from 0.55 per cent in AY18, shows data by the finance ministry.

Aravind Srivatsan, Partner, Nangia Andersen LLP said that with heavy technology and targeted audits, a clear message has been signaled to the taxpayer community is that the government is committed to acknowledge and treat the honest & compliant taxpayers with fairness and courteous manner. “Conversely, non-compliance to tax laws will be severely viewed leading to automatic penal consequences with strict enforcement approach by the tax department,” he said.

#Modi

[tax4wealth]

Tax Planning through HUF & Family Arrangement - CRITICAL ASPECTS  What is Tax Planning? (00:10) • Tax planning is a legal way of reducing your tax liabilities in a year. It will help you to utilize the tax exemptions, deductions, and benefits in the best possible way for minimizing your tax burden. However, it should be done in a legal manner. (00:16) • Tax planning allows a taxpayer to make the best use of the various tax exemptions, deductions and benefits to minimize their tax liability over a financial year. (00:26) •As per Hindu Law, an HUF is a family consisting of all lineal male descendants of a common ancestor and includes their wives and unmarried daughters. (00:37) • As per Hindu Law, Jains, Sikhs and Indian Buddhists are also included in the definition of Hindu and, therefore, the provisions relating to HUF also apply to them. (00:58) • As held by the Supreme Court in the case of `Gowli Buddanna v. CIT’ 60 ITR 293 (1:16) • case of `CIT v. Veerappa Chettiar’ 76 ITR 467 (SC ( 1:41) • case of `CIT v. Arvind Jhunjhunwalla & Sons’ 223 ITR (2:10) • case of `CIT v. M. Balasubramanian’ 182 ITR ( 2:34)  How do HUF does Business? (3:12) • If an HUF contributes fund to the capital of a partnership firm, profit and interest received (from the firm) by a partner who represents the HUF is regarded as HUF income. (3:17) •This is because the income in the partner’s hands arises on investment of the HUF’s funds. However, if the Karta is also paid a salary by the firm for efforts put in by him, such funds would be regarded as the Karta’s individual income. (3:45) •Commission cannot be taxable in hands of huf as it requires individual efforts. However, in case of delprede Agent or stock brokerage firm, commission can be recieved by Huf if guarantee is given from corpus of HUF. (3:48)  Daughter & the HUF – Now ( 5:07) • Hindu Succession (Amendment) Act, 2005 in a Joint Hindu Family governed by the Mitakshara law, the daughter of a coparcener shall :- 1. by birth become a coparcener in her own right in the same manner as the son; 2. have the same rights in the coparcenary property as she would have had if she had been a son; 3. be subject to the same liabilities in respect of the said coparcenary property as that of a son,-  What is Family Arrangement (6:06) • In order to settle existing disputes or avoid any potential litigation among the family members, families arrive at a “family arrangement” either by way of a mutually agreed deed for family settlement or in the form of an arbitration award or a court decree.  What are Type of Family Arrangement ( 7:47) • HOTCH-POT OF PROPERTIES FOR FAMILY ARRANGEMENT https://www.youtube.com/channe....l/UCpLA1d2SabkUKkrlz Follow me on Social Media: 1. Facebook : https://www.facebook.com/tax4wealth 2. Linkedin : https://www.linkedin.com/in/tax4-wealth-4aa2b718b/ 3. Twitter : https://twitter.com/tax4wealth 4. Tumblr : https://tax4wealth.tumblr.com/ 5. Pinterest : https://in.pinterest.com/tax4wealth/pins/ 6. Medium : https://medium.com/@bhartichawla27 Google Play Store https://play.google.com/store/apps/details?id=com.future.hellotaxindia&hl=en_IN ▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾ ➨ Website:https://tax4wealth.com/ ➨ Writes to us: [email protected] ▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾ #familyarrangement #huf #taxplanning 

#huf #family arrangements #tax planning #partnership firms #what is family arrangement #types of family arrangement #huf business #karta #tax liabilties #hindu law #taxation of huf #tax planning through huf #critical aspects of tax planning #tax advisor

[sunilkumargupta-blog]

Relaxation from tax and regulatory compliance timelines in view of COVID-19 outbreak

Having gripped the world with massive footprints, the coronavirus pandemic has kicked off a wave of mass hysteria over the conscious precautions. Surging cases of people hoarding essential commodities in large quantities, have come to the notice. Routine life of everyone is badly affected due to shutting down of schools, colleges, malls, Cinema halls etc. India has gone in lockdown mode and economy will also remain in this mode with the increasing cases of the spread of Covid-19 disease at a fast clip over the past few days. Several companies such as Maruti Suzuki India Ltd, Titan Co. Ltd, Dabur India Ltd and Asian Paints Ltd. have announced closure of their manufacturing facilities. All domestic passenger flights are being suspended for the month.

While there is a general agreement that social distancing is the need of the hour, there are growing concerns over the severe economic impact of an extreme lockdown situation. India has gone ahead of various countries in imposing strict restrictions on its citizens to fight the spread of Covid-19.

In this situation the India Government decided to defer the Tax and regulatory payments and compliance filings as a relief to combat the existing crisis. The Hon’ble Finance Minister (FM), Nirmala Sitharaman held a press conference on Tuesday 24th March, 2020 to announce various important relief measures taken by the government on statutory and regulatory compliance matters which has been highlighted below:

a) Income Tax

Due date for filing belated and revised income tax returns (ITR) under section 139(4) and 139(5) respectively of the Income Tax Act, for FY 2018–19 (AY 2019–20), extended from 31st March, 2020 to 30th June, 2020.

A person having Permanent Account Number (PAN) is required to link his Aadhaar number on or before 31st March, 2020. Failure to do so shall make the PAN inoperative immediately after 31st March, 2020. Extension has been granted for linking of Aadhaar with PAN from 31st March 2020 to 30th June 2020.

Under the Direct Tax Vivad se Vishwas Act, 2020, if a taxpayer under the Act opts for withdrawal of appeals, he/she is required to pay 100 % of the disputed tax if paid by 31st March, 2020, and if paid after 31st March, 2020, 110 % of the disputed tax is required to be paid. Under the relief measures announced in the press release, the additional 10 % amount has been waived off, if the amount is paid by 30th June, 2020.

It has been now decided that where the time limit of due dates for issue of notice, intimation, notification, approval order, sanction order, filing of appeal, furnishing of return, statements, applications, reports, any other documents and time limit for completion of proceedings by the authority and any compliance by the taxpayer, including investment in saving instruments or investments for roll over benefit of capital gains under Income Tax Act, Wealth Tax Act, Prohibition of Benami Property Transaction Act, Black Money Act, STT law, CTT law, Equalisation Levy law, Vivad Se Vishwas law is expiring between 20th March, 2020 to 29th June, 2020, it shall be extended to 30th June, 2020.

In the cases of delay in deposit of advance tax, self-assessment tax, regular tax, TCS, equalisation levy, Securities Transaction Tax (STT), Commodities Transaction Tax (CTT), interest of 12% p.a. (i.e. 1% p.m.) and for delay in deposit of TDS interest of 18% p.a. (i.e. 1.5% p.m.) is levied. The Government has given a relief by reducing the interest rate of 9% p.a. (i.e. 0.75% p.m.) instead of 12%/18% and removing the penalty provision, only in the cases where delayed payments will be made during 20th March, 2020 to 30th June, 2020.

b) GST/Indirect Tax

Taxpayers having aggregate annual turnover less than INR 5 crore will be allowed to file return under Form GSTR-3B due in March 2020, April 2020 and May 2020, till 30th June, 2020 without any interest, late fee, and penalty whereas others having annual turnover more than or equals to INR 5 crore will be allowed to file the same with a reduced interest of 9% p.a. instead of the existing 18% p.a., from 15 days after the relevant due date but without any late fee or penalty.

Another major relief provided is the extension of the due date for opting for composition scheme till 30th June, 2020. Moreover, the last date for making payments for the quarter ending 31st March, 2020 and filing of return for FY 2019–20 by the composition dealers has also be extended till the 30th June, 2020.

The due date of filing the annual return in Form GSTR-9 for the FY 2018–19, which was due on 31st March, 2020, has been extended till 30th June, 2020. (Notification no. 15/2020 — Central Tax dated 23 March 2020 has already been issued in relation to the extension of due date for filing annual return for FY 2018–19).

Due dates for issue of notice, notification, approval order, sanction order, filing of appeal, furnishing of return, statements, applications, reports, any other documents, time limit for any compliance under the GST laws where is expiring between 20th March, 2020 to 29th June, 2020, has been proposed to be extended to 30th June, 2020.

Moreover payment date under Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 shall be extended to 30th June, 2020 without any interest, if payment is made by 30th June, 2020.

c) Customs

The Government has decided to start customs clearance on 24X7 basis till 30th June, 2020, even during the lockdown period and has also decided to relax the timelines where due date for issuance of notice, notification, approval order, sanction order, filing of appeal, furnishing applications, reports, any other documents etc. or time limit for any compliance under the Customs Act and other allied laws is expiring between 20th March, 2020 to 29th June 2020, it has been decided to extend the same till 30th June, 2020.

d) Financial Services

Considering the crisis situation and the lockdown decision, the government has decided that no charges will be levied on cash withdrawal through Debit Card from any other bank’s ATM, no fees will be charged for not maintaining the minimum balance requirement and there will be a reduction in the bank charges for digital trade transactions for all trade finance consumers for the next 3 months.

e) Corporate Affairs

In order to reduce the financial burden from the non-compliant Companies/ LLPs and to clear their backlog of pending filings and to make a ‘fresh start’ the Government has decided to waive the additional fees for delay in filing of any form, document, return, statement etc. with MCA, during the moratorium period starting from 1st April, 2020 to 30th September, 2020.

It has also been decided to extend the mandatory time gap between two Board meetings as per the Companies Act, 2013 (currently 120 days) has be extended by 60 days for quarter ending 30th June, 2020 and 30th September, 2020.

The Hon’ble Finance Minister even highlighted that the applicability of the recently introduced Companies (Auditor’s Report) Order, 2020 shall be made from FY 2020–2021 instead of FY 2019–2020 s as to ease the burden from the Companies as well as the Auditors.

A major relaxation provided by the Government is the removal of the condition of non-compliance with the provisions of Schedule IV of the Companies Act, 2013 in case of inability of holding separate meeting of Independent Directors during the FY 2019–2020.

Timelines for creation of deposit reserve of 20% of the deposits maturing during FY 2020–2021 has been relaxed from 30th April, 2020 till 30th June, 2020.

Requirement to invest 15 % of debentures maturing during a particular year in specified instruments before 30th April, 2020, has been extended to 30th June, 2020.

As per the provisions of the Companies (Amendment) Ordinance 2018, a newly incorporated company needs to file a declaration for Commencement of Business (in Form INC-20A) with the Registrar of Companies within 180 days of the date of incorporation of the company. An additional time period of 6 months has now been allowed to the newly incorporated companies.

Inability to meet minimum residency requirement of stay in India for 182 days by at least one director of the company under section 149 of the Act, shall not be treated as a violation for FY 2019–20.

In order to prevent triggering of insolvency proceedings against MSMEs, the thresholds of default under section 4 of Insolvency and Bankruptcy Code, 2016 (IBC, 2016) has been raised to INR 1 crore (from the existing threshold of INR 1 lakh). It has been declared that in case the COVID-19 outbreak continues beyond 30th April, 2020, the government may consider suspending section 7, 9 and 10 of the IBC 2016 for a period of 6 months to stop companies at large from being forced into insolvency proceedings in such force majeure causes of default.

Detailed notifications/circulars regarding any/all the above compliance requirements shall be reviewed and issued by the Ministry of Corporate Affairs as and when required.

Conclusion:

It is not only the statutory and compliance relaxation, but it has also been discussed and decided that in order to normalise the entire scenario, import of SPF Shrimp Broodstock and other Agriculture inputs expiring between 1st March, 2020 to 15th April, 2020 has been extended by 3 months, delay upto 1 month in arrival of consignments shall be condoned. There will be no additional rebooking charges for quarantine cubicles for cancelled consignments in Aquatic Quarantine Facility (AQF) Chennai and the verification of documents and grant of NOC for Quarantine has been relaxed from 7 days to 3 days.

In order to combat the impact of coronavirus on the economy and to mitigate the aftereffects of Covid-19, the Government is now working out on the Economic packages. The Hon’ble Finance Minister of India stated that every attention is being given to the economy and the Hon’ble Price Minister is also closely monitoring the situation. The current situation in the economy may not improve immediately but the entire global economy may take some time to grow and attain the desired level.

Written and compiled by

CA Sunil Kumar Gupta

Founder Chairman, SARC Associates

www.sarcassociates.com; www.sunilkumargupta.com

[quikkloan]

Personal Loan For First Time Borrowers

As a first-time loan borrower, maintaining a steady balance in your savings account and staying away from cheque bounces are similar to timely loan repayments.  The transactions made in your savings account will be under a scanner thus help in availing a personal loan easily. Yes, in the case of first-time loan borrowers, where no credit history can be found, these are some crucial factors lenders do consider before giving personal loan approval.  Lenders also offer small loans to new to bank or new to credit customers who has limited credit or no credit history with Credit Bureaus (Equifax, CRIF, CIBIL and Experian). They analyze creditworthiness using non-traditional data sources such as payment record related to utility bills, telephone bills, and rental payment incase of rental accommodation.  What is a Personal Loan? An unsecured loan taken by the borrowers from a bank or non-banking financial company (NBFC) to fulfil any personal need. This multi-purpose loan comes at a lower interest rate with a maximum loan tenure of up to 5 Years. Different lenders offer different loan amount ranging up to Rs.20 lakh that can be given based on key eligibility criteria such as income, credit report/CIBIL score, employment history, repayment capacity, etc. Steps That Lead to Personal Loan Approval for First Time Borrowers 1. Compare:  You may apply online by checking and comparing various lenders parameters for personal loan, especially when you do not have prior borrowing history. it is advisable to compare lenders on different parameters such as: Interest RatesEMIsTenureMaximum Loan AmountProcessing Fee & Other ChargesApproval TimeLoan Disbursal  2. Watch Your Borrowings: Be calculative in life, especially in case of availing a personal loan. Apply what you need. Do not get over-excited just by looking at the higher loan amount. Stick to your actual needs and then decide the loan amount. Doing so will help in reducing your loan burden and is also a secret to repay your loan on time, which you can afford to pay back.  3. Know Your Eligibility: Lenders give personal loan approval to those who fulfill the required eligibility criteria set by them. Lenders can either accept or reject an applicant’s personal loan application, failing to meet these norms. Before approving, lenders take into consideration various points such as: Age IncomeMonthly ExpensesExisting Loan/Liability/DefaultCredit/Cibil ScoreJob StabilityCategory of the Employer-(CAT A, CAT B), Government EmployeeRelationship with a Lender 4. Pay Attention to CIBIL/Credit Score: As you are a first-time loan borrower, you will have zero or -1 (minus one) limited or no credit history, until and unless you owned a credit card. Since you are new to this experience, it would be important for you to know that lenders prefer those borrowers who have a good credit score. After all, a good score is an indication of a borrower's creditworthiness, hence lending would be less risky in case of unsecured personal loans.   How first time borrowers can get personal loan as they don't have any prior credit history?  Short-term Personal Loan is the Solution: Yes, a short-term personal loan can be your best buddy. First, you need to build your credit history to become eligible for future borrowings. Thus, a short-term personal loan will solve your purpose here. These loans can be given for a short interval of time (up to 1 year), thus help in generating your credit repayment history from scratch. 5. Look for Co-applicant/Guarantor: If availing a short-term loan would be a problem, apply personal loan with a co-applicant or guarantor. That’s Right! With no credit history, there are chances of short-term loan rejection also. The provision of a co-applicant or guarantor can come to your rescue. In such a case, the credit score of your co-applicant/guarantor would be under the scanner and based on their good cibil score, you will be given a personal loan. However, in case of co-applicant both the applicants are responsible to repay the loan. Whereas, in the case of a guarantor, only he/she is liable to the lender.     6. Apply with Pre-approved Loan Offers: Having savings accounts can be of a big help here. Lenders usually give pre-approved personal loan offers to their existing customers as well as first-time borrowers. If you choose your existing lender for availing a personal loan, you might see a pre-approved offer in your bank account. Just check your registered e-mail or visit your account online to know more about the offer based on your eligibility such as monthly income, monthly expenses, relationship with a lender, etc.  7. Avoid Multiple Loans Together: After getting the approval for one loan, it’s better to continue with the same rather than taking multiple loans, especially for first-time borrowers. This is because every loan application is registered with a credit bureau. And, on seeing multiple applications or hard enquiries, lenders will look up to you as credit hungry. Thus, your credit score will be reduced and this will ultimately show up in your CIBIL Report.   8. Be Documents Ready: Keep your documents ready for a quick and hassle-free journey. Without submitting the complete KYC documents, you won’t be able to avail a personal loan. Make sure your documents are complete and information should also be correct on loan application form as well.  9. Read the Loan Agreement Thoroughly: Before signing the dotted line and finalizing the personal loan deal read the agreement carefully. Pay attention and go through each and every clause and in case of confusion or query get in touch with your respective lender. Once you are satisfied, go ahead with the same.  10. Balance Transfer at Your Disposal: After repaying your personal loan for 9 months or 1 year, a first-time borrower can also opt for a balance transfer facility. Wherein, the outstanding loan amount will be transferred to a new lender at a lower interest rate. After choosing a personal loan balance transfer, you would continue repaying your loan to your new lender as you are now liable to the same.   11. Enjoy Tax Benefits: Though, personal loans don’t offer tax benefits, if you apply for home renovation/down payment, you will get the tax exemption under Section24 of the Income Tax Act. Yes, a borrower/homeowner can claim a deduction of up to 2 lakh(Rs.1.50 lakh for showing ITR of last Financial Year) on the Interest Portion only.     Quick Tip:  As you are a first-time loan borrower and to generate your credit/cibil score from scratch, timely payments is one thumb rule that you should follow. Pay your loan EMI on time and never skip/delay a payment. Doing so will enhance your credit profile, makes you look reliable and less risky as far as lending is concerned.   Opt for Auto-debit Payment to never miss an EMI payment. With the help of this facility, the required EMI amount will automatically be debited from your account.   So, keep all your queries aside and be ready to enjoy a quick and hassle-free personal loan with these useful tips above.  #Fintech #StartupIndia #Startup #PersonalFinance #digitalloan #personalLoan #businessLoan #Finance #IndianStartup #startupbootcamp #fintechNews #angelInvestment #banking Read the full article

#Cibi-1personalloan #FisttimeloanBorrower #Newtobank #personalloan

[loyallogic]

What are Income Tax Raids? When are these Conducted?

This article is written by Poonam Joshi, pursuing a Certificate Course in Advanced Corporate Taxation from LawSikho.com. Here she discusses “What are Income Tax Raids? When are these Conducted?”.

Introduction

As per the lay man’s language Raid means a sudden/surprise lookout at somebody’s premises with an information of something which is suspected for seizure. Raid in common parlance is used for search and seizure operations under any law. Likewise, even under Income Tax if department has reasonable belief that any person has evaded tax and acquired undisclosed moveable or immovable assets then as per section 132 of the Income Tax Act the premises of the person can be raided/searched and the documents/accounts containing details of unaccounted expenditure/investments or of undisclosed income can be seized.

In order to unearth the black money and undisclosed wealth of a person  the following persons:

the Principal Director General or  Director-General or 

Principal Director or Director or 

the Principal Chief Commissioner or Chief Commissioner or 

Principal Commissioner or Additional Director or 

Additional Commissioner or Joint Director or Joint Commissioner

may authorize any officer subordinate to him but not below the rank of Income tax officer to conduct a search. The officer has the power to enter, break open and search any premises, place, vessel, aircraft or vehicle where he has reason to believe that suspicious documents and material are kept there. He can also search for a person who is leaving or who are entering the place where the search is conducted. Before making a search the authorized officer shall call upon two or more respectable persons of the locality in which the premises to be raided is situated to witness the search. These persons are generally known as panch and the document mentioning/recording the details of search proceedings is known as Panchnama. 

If any person is found to be in possession of any material the officer has the power to inspect that material. The officer can seize any material found during the search. However, w.e.f 1.6.2003 he has no power to seize any bullion, jewellery or any other valuable thing or article which is the stock-in-trade of the business found during the search. He shall make note of the inventory of the stock-in-trade and of such money, bullion or jewellery. In order to identify the material seized the officer can put identification marks on the material seized.  

Circumstances under which Search and Seizure can be Authorized

Clauses (a) (b) and (c) of section 132(1) spell out the circumstances under which the authorizing authority may issue a warrant of authorization in the following manner:

Section 132(1)(a)

Under clause (a) action may be taken if the person is served interalia with a summons under section 131 or notice under section 142(1) to produce or cause to be produced specified books of accounts or other documents and he fails to comply. Such non compliance is sufficient reason for the issuance of the authorization.

Section 132(1)(b)

Under clause (b) a formal notice is not essential. The Authorising Officer must have reason to believe that the person, whether or not a notice has been served upon him, is not likely to produce his books of accounts and other documents which may be useful and relevant to income-tax proceedings.  Prior to 1.4.2017 if the authorizing authority was challenged, he had to prove the basis of his belief as decided in the case of Manchand and Co. v. CIT (1970) 76 ITR 217 and also in the case of Kusum Lata v. CIT (1989) 180 ITR 365 (Raj,)

Section 132(1)(c)

The circumstance under which clause (c ) is applicable where the authorising authority has information that  firstly that the person is in possession of money, etc and secondly, that much money, etc represents either wholly or partly income or property which has not been or would not be, disclosed for the purpose of the Income Tax Act. Under clause(c ) the authorizing authority is under the heavy burden to justify the ground of his belief. 

Taking into consideration the provisions of search and seizure under the Income Act, it could be seen  that the raids can be conducted by the Income Tax Department on any person or on a group under the following circumstances:

When the department has sufficient evidence and has reason to believe that the person on whom the raid is conducted is in possession of undisclosed or unaccounted fixed  or current assets.

When a person is not filing any income tax return despite having sufficient amount deposited in his bank accounts.  

When the department has information that some exorbitant expenses are made on any occasion/ ceremony or any other event by a person and has not disclosed the source of that expenditure. 

When the department has got information from other state or central government departments about some evasion of tax. 

When the department has information that unaccounted amount is spent or used in terrorist activities or for smuggling of goods. 

When the department has received the information from some close relative of the person or from the informer hired by the department. 

Any other information or reason which the department finds valid and permissible under law for conducting search. 

Person to be Searched

Taking into consideration the above circumstances under which search can be conducted the persons to be searched are persons:

Who is in possession of books of accounts or documents which are not produced or are likely not to be produced in response to notices or summons or

Persons who are likely to be in possession of unaccounted money, undisclosed income or property. 

This person could be a resident or non-resident.  In the case of Ram Kumar Dhanuka v. UOI (2001) 252 ITR 205 (Raj)(HC), the Honourable High court of Rajasthan held that, even a non-resident Indian can be subjected to a search under this section if the department has definite information that the person concerned has income earned in India which may be taxable under the Act and which might not have been disclosed or would not be so declared.

Click Above 

Reasons forming belief are to be recorded by Authorizing Authority before Authorizing Search & Seizure

Section 132 of the Income Tax Act, 1961 does not confer any arbitrary authority upon the Revenue Officers. However, since by the exercise of the power under this section a serious invasion is made upon the rights, privacy and freedom of the taxpayer, the power must be exercised strictly in accordance with the law and only for the purpose for which the law authorizes to be exercised. The opinion or the belief so formed and recorded must be such that it clearly reveals under which clause of section 132(1) of the Act the belief falls. The satisfaction should be recorded on the basis of some relevant material and should not be based on mere suspicion or doubt. This is supported by the judgement in the case of Visa Comtrade Ltd. V. UOI (2011) 338 ITR 343 (Ori).

Can a person demand reasons for conducting the search?

There is no condition of section 132 or any other provision of the Act which mandates that the reasons recorded should be disclosed to the assessee. Therefore, if the copy of reasons recorded is not provided to the seizure cannot be the ground to hold that search and seizure proceedings against assessee are bad-in-law. This view is supported by the judgement in the case of Genom Biotech Pvt. Ltd vs Director of Income Tax, (Investigation) 2009 10 Taxman 395 (Bom).  However, still, the petitions were filed on a regular basis challenging the legality of the search. To put an end to this, w.e.f 1.4.2017 an Explanation  is inserted to sub-section (1) and to sub-section (1A) of section 132 and to sub-section (1) of section 132A of the Income-tax Act to declare that the ‘reason to believe’ or ‘reason to suspect’, as the case may be, shall not be disclosed to any person or any authority or the Appellate Tribunal.  As per – Circular No. 2/2018, Dated 15-2-2018 this amendment has its effect  retrospectively to sub-section (1) of section 132 of the Income-tax Act from 1st day of April 1962 and to sub-section (1A) of section 132 of the Income-tax Act and to subsection (1) of section 132A from 1st day of October 1975.

However, the High Courts and Supreme Court have the jurisdiction to call for and look into the reasons recorded to decide whether the issue of the search warrant was called for. This view is supported by the decision of the Honourable Supreme Court in the case of Dr. Pratap Singh v. Director of Enforcement (1985) 155 ITR 166 (SC).

Conclusion

From the above discussion it is clear that the raids are conducted by the department in order to address the repercussions of avoidance and evasion of tax to ensure that economic and social health of the country is not compromised and that invasion upon the privacy of a person is well within the parameters of law not violating the principles of natural justice. However, if the provisions of the law are violated by the department the person has a remedy to file a writ against the department.

Students of Lawsikho courses regularly produce writing assignments and work on practical exercises as a part of their coursework and develop themselves in real-life practical skill.

The post What are Income Tax Raids? When are these Conducted? appeared first on iPleaders.

What are Income Tax Raids? When are these Conducted? published first on https://namechangers.tumblr.com/

[allindiaitr]

CBDT extends Form 16 issue date to July 10; ITR filing due date may also get extended

The government is likely to make an announcement regarding extension of due date for filing income tax return for the financial year 2018-19. Meanwhile, the last date for ITR Filing is already out that is July 31. In context with this, the Central Board of Taxes (CBDT) has issued a notification extending the last date for employers to file their TDS returns and issuing of  Form 16 to employees to June 30th and July 10th respectively. Therefore, it is acknowledged that if employers will get their  Form 16 by 10th July, then it would be difficult for the taxpayers to file the income tax returns on July 31. Following this pace of the CBDT, the extension of the due date of filing ITRs may well get extended too.

The CBDT has extended the due date of filing of Form 24Q, i.e., TDS return in respect of salary for the financial year 2018-19 from May 31, 2019 to June 30, 2019," Naveen Wadhwa, chartered accountant and manager, Taxmann, told The Economic Times. He added that the due date was extended considering the latest changes made by the tax department in Form 24Q and to redress genuine hardship of employers in timely filing of TDS return in revised format of Form 24Q.

Earlier, the tax department has issued a notification to revise the Form 24Q and Form 16 (TDS certificate in respect of salary income) with effect from May 12, 2019. Following the latest format by the tax department, every employee is required to disclose the detailed break-up of salary, exempt allowances and deduction claimed and allowed to an employee.

In addition to this, the income tax returns form for the assessment year 2019-2020 are also amended by CBDT in contrary to the changes made in Form 24Q and Form 16. The move has been initiated in accordance with the cross-check the information provided by an employee in ITR Forms with TDS return filed by his employer.

What is Form 16 all about?

Form 16 contains the following things: –

·         Employee’s personal details which include name, PAN number, date of birth etc.

·         Employer’s details such as name, TAN, PAN, etc.

·         Acknowledgement number, which is a verification number for the taxes paid by the employer.

·         Employee’s Salary details which contain employee’s net salary, gross salary, perks, deductions, etc.

·         Employee’s total income after tax deduction.

·         It also contains the Tax deducted under section 191A

·         It includes the employer’s tax payment declaration

·         It contains the details of income tax refund if there are any.

·         Form 16 also comprises of TDS receipt, which is provided to the individual once he/she pays it.

·         Last but not the least, it contains tax Payment details such as Cheque number, Challan number, Demand Draft number, etc.

Why Form 16?

Form 16 is required to file both Income Tax Return by the employee as well as refund by the employer on behalf of the employee. It can also be used as income verification certificate for various purposes, like applying for loan, visa etc.

#itr filing #online income tax return #efiling income tax #income tax return filing #efiling of income tax return #itr filing online #income tax online #itr return #income tax e-filing #income tax india e-filing #e-filing of income tax online #e-file income tax #efilingitr #filing ITR online #file ITR online #itr e filing #income tax refund status #upload form 16

[ashok-kumars-world]

A slew of changes in the income tax rules had been announced by the Union Finance Minister Nirmala Sitharaman while presenting the Union Budget 2021. The new financial year begins on April 1 with this, new income tax rules will also come into effect.

New income tax rules that come into effect from April 1. So let's take a look at the changes announced in the Union Budget in February.

-TDS: The finance minister has proposed higher TDS (tax deducted at source) or TCS (tax collected at source) rates in budget 2021 in order to make more people file income tax returns (ITR). New Sections 206AB and 206CCA had been proposed in the budget as a special provision for the deduction of higher rates of TDS and TCS, respectively for the non-filers of an income tax return.

-Option to choose 'New tax regime' instead of Old tax regime: The government had implemented the new tax regime last year in Budget 2020. However, the exercise of choosing one of the tax regimes for FY 2020-21 will be required to be made starting from April 1, 2021. Taxpayers still have time until March 31, 2021, to make tax-saving deductions, however, they will be able to opt for a beneficial regime at the time of filing their tax returns for FY 2020-21.

-Senior citizens above 75 years exempted from filing ITR: Finance minister Nirmala Sitharaman while presenting Budget 2021 had exempted individuals above 75 years from filing income tax returns (ITR) to ease the compliance burden on senior citizens. The exemption will be available to only those senior citizens who have no other income but depend on pension and interest income from the bank hosting the pension account.

-PF tax rules: FM Nirmala Sitharaman capped the tax-free interest earned on provident fund contribution by employees and employers together to a maximum of Rs 2.5 lakh in a year. She then raised the limit for tax exemption on interest earned on provident fund contribution by employees to Rs 5 lakh per annum in specified cases as against the proposed Rs 2.5 lakh. The up to Rs 5 lakh contribution does not include the employer's contribution.

-Pre-filled ITR forms: In order to ease compliance for the taxpayer, details of salary income, tax payments, TDS, etc. individual taxpayers will be given pre-filled Income Tax Returns (ITR). To further ease filing of returns, details of capital gains from listed securities, dividend income, and interest from banks, post office, etc. will also be pre-filled. The move is aimed at easing the filing of returns.

-LTC scheme: The scheme was announced by the government last year for individuals who were unable to claim their LTC tax benefit due to covid-related restrictions on travelling. The central government in Budget 2021 has proposed to provide tax exemption to cash allowance in lieu of Leave Travel Concession (LTC).

[lineffability]

Hi there! So i was just wondering if "into the ring" is still being written i havnt had a notification say its been updated in a while. I love the story and it would be a shame to lose it but if youve stopped writing i respect your decision. Have a lovely day/evening/night!!!

You have good timing nonny. For the longest time I literally ignored all ITR asks bc I had to give the same clueless answer every time. :’D But! Since @mslead revived her tumblr with the intent to start writing again we decided we will try to continue writing ITR and will hopefully finish it. 

Theoretically we still have an actual shitton of unpublished chapters and the part that we still do have to write is relatively small in comparison, but I can’t really tell you when we’ll start posting again...

But B actually started actively writing ITR again! The other day she told me she wrote a page?? And I was like ‘you what’ hahaha. i haven’t opened the doc in months and it was kinda frozen in time indefinitely to me. But apparently this is a thing we’re doing again so... we shall kepp you updated.

#ask #itr ask #also idk if neena would be in again #she graduated tho so maybe she'll have a bit more time #Anonymous

[chaitanyaah]

Judgments on Succession, Partition and Inheritance of Joint Hindu Family Property

         Hindu Law for partition, succession  and inheritance is precisely clear in terms of  codified law in India. It is facts, artistic drafting of suit and claim of joint property that make it ambiguous. Many times the Hon'ble Supreme Court of India has given interpretation to law according to facts before it. There are various judgments which are helpful to understand mode of succession, inheritance and status of property after partition. This article has discussed few of them. 

The devolution of a share acquired on partition is very well explained by Mulla  on  Hindu  Law  (22nd Edition) as following: 

“§ 339. Devolution of share acquired on partition. –

The effect of a partition is to dissolve the coparcenary, with the result, that the separating  members thenceforth hold their respective shares as their separate property, and the share of each member will pass on his death to his heirs. However, if a member while separating from his other coparceners continues joint with his own male issue, the share allotted to him on partition, will in his hands, retain the character of a coparcenary property as regards the male issue [§ 221, sub­§ (4)].”

C.N. Arunachala Mudaliar v. C.A. Muruganatha Mudaliar & Anr

AIR 1953 SC 495

The Supreme Court in present case considered the question as to whether the properties acquired by defendant No. 1 under Will are to be regarded as ancestral or self-acquired property in his hands. It is a case where the plaintiff claimed partition of the property in a suit filed against his father and brother. The stand of the father was that the house property was the self-acquired properties of his father and he got them under a Will executed in the year 1912. 

It was held :

"That father of a Joint Hindu family governed by Mitakshara law has full and uncontrolled powers of disposition over his self-acquired immovable 6 property and his male issue could not interfere with these rights in any way. The Court while examining the question as to what kind of interest a son would take in the self-acquired property of his father which he receives by gift or testamentary bequest from him, it was held that Mitakshara father has absolute right of disposition over his self-acquired property to which no exception can be taken by his male descendants. It was held that it was not possible to hold that such property bequeathed or gifted to a son must necessarily rank as ancestral property. It was further held that a property gifted by a father to his son could not become ancestral property in the hands of the donee simply by reason of the fact that the donee got it from his father or ancestor."

The Supreme Court in one of the recent case reported in AIR 2019 SC 4822 observed that such questions have been such questions have been answered in different ways by different High Courts. The Calcutta High Court held that properties become ancestral property in the hands of his son as if he had inherited it from his father but in other High Courts, the question is treated as one of construction to be decided in each case with reference to its facts as to whether the gifted property was intended to pass to the sons as ancestral or self-acquired property. 

The Bombay High Court in Jugmohan Das v. Sir Mangal Das (1886) I.L.R. 10 Bom 528 held that if the son takes by devise, the property continues to be self-acquired in his hands. A man can give away his self-acquired property to whomsoever it pleases, including his own sons and that property so given would be considered self-acquired in the hands of the donee. This view is upheld by the Supreme Court in C.N. Arunachala Mudaliar case.

In other case reported as Pulavarthi Venkata Subba Rao & Ors. v. Valluri Jagannadha Rao (deceased) by his Heirs & LRs & Ors. AIR 1967 SC 591 , life estate was given by Valluri Jagannadha Rao to his two sons, Srivatsankara Rao and Narasimha Rao. There was a condition that if any of his sons left no son, the sons of his other son would be entitled to the properties at the end of the life estate. The High Court held that the properties taken by two sons of Narasimha Rao under Will were their separate properties and not ancestral properties as there was no such intention in the Will. 

However both of above views can be taken considering facts and circumstances of each case.

Valliammai Achi v. Nagappa Chettiar and Ors.

AIR 1967 SC 1153 

It was held: 

“10. … It is well settled that the share which a co­-sharer  obtains on partition of ancestral property is ancestral property as regards his male issues. They take an interest in it by birth whether they are in existence at the time of partition or are born subsequently: [see Hindu Law by Mulla, Thirteenth Edition p. 249, para 223 (2)(4)]. If that is so and the character of the ancestral property does not change so  far  as sons are concerned even after partition, we fail to  see how that  character can change merely because the father makes a will by which he gives   the residue of the joint family property (after making certain bequests) to the son.”

Rani & Anr.  v.  Santa Bala Debnath & Ors. (1970) 3 SCC 722 It was held that : 

“10. Legal necessity to support the sale must however be established by the alienees. Sarala owned the land in dispute as a limited owner. She was competent to dispose of the whole estate in the property for legal necessity or benefit to the estate. In adjusting whether the sale conveys the whole estate, the actual pressure on the  estate, the danger to be averted, and the benefit to be conferred upon the estate in the particular instance must be considered. Legal necessity does not mean actual compulsion: it means pressure upon the estate which in law may be regarded as serious and sufficient. The onus of providing legal necessity may be discharged by the alienee by proof of actual necessity or by proof that he made proper and bona fide enquires about the existence of the necessity and that he did all that was reasonable to satisfy himself as to the existence of the necessity.” 

C. Krishna Prasad v. C.I.T, Bangalore

1975 (1) SCC 160

In the present case, C. Krishna Prasad, the appellant along with his father Krishnaswami Naidu and brother C. Krishna Kumar formed Hindu undivided family up to October 30, 1958, when there was a partition between Krishnaswami Naidu and his two sons. A question arose as to whether an unmarried male Hindu on partition of a joint Hindu family can be assessed in the status of undivided family even though no other person besides him is a member of the family. It was held that the share which a coparcener obtains on partition is ancestral property as regards male issue. 

It was held as : 

“The share which a coparcener obtains on partition of ancestral property is ancestral property as regards his male issue. They take an interest in it by birth, whether they are in existence at the time of partition or are born subsequently. Such share, however, is ancestral property only as regards his male issue. As regards other relations, it is separate property, and if the coparcener dies without leaving male issue, it passes to his heirs by succession (see p. 272 of Mulla’s Principles of Hindu Law, 14th Ed.). A person who for the time being is the sole surviving coparcener is entitled to dispose of the coparcenary property as if it were his separate property. He may sell or mortgage the property without legal necessity or he may make a gift of it. If a son is subsequently born to him or adopted by him, the alienation, whether it is by way of sale, mortgage or gift, will nevertheless stand, for a son cannot object to alienations made by his father before he was born or begotten”.

Commissioner of Wealth Tax, Kanpur and Ors. v. Chander Sen and Ors.

[1986] 161 ITR   370   (SC) : 3 (1987) 1 SCC 204

It was observed 

"That under the Hindu Law, the moment a son is born,  he gets a share in father's   property   and   become   part of the coparcenary. His right accrues  to him  not on the death of  the father  or inheritance from the father but with the very fact of his birth. Normally, therefore whenever the  father gets a property from whatever source, from the grandfather or from any other source,  be it separated property or not, his  son should  have a share  in that and it will become  part  of the  joint  Hindu  family of his son and grandson and other members who form joint Hindu family with him. This Court observed that  this position has been affected by Section 8 of the Hindu Succession Act, 1956 and, therefore, after the Act, when  the son inherited the property in the situation contemplated by Section 8, he does  not take it as Karta of his own undivided family but takes it in his  individual capacity."

M. Yogendra and Ors. v. Leelamma N. and Ors. 

2009 (15) SCC 184

It was held : 

“It is now well settled in view of several decisions of this Court that the property in the hands of a sole coparcener allotted to him in partition shall be his separate property for the same shall revive only when a son is born to him. It is one thing to say that the property remains a coparcenary property but it is another thing to say that it revives. The distinction between the two is absolutely clear and unambiguous. In the case of former any sale or alienation which has been done by the 8 sole survivor coparcener shall be valid whereas in the case of a coparcener any alienation made by the karta would be valid.” 

T.G. Ashok Kumar v. Govindammal & Ors.

(2010) 14 SCC 370.

Court was dealing with issue of property purchased during pending of suit and it was held :

"The underlying principle of the doctrine of  lis pendens  is that if a property is transferred pendente lite, and the transferor is held to have no right or title in that property, the transferee will not have any title to the property." 

Rohit Chauhan v. Surinder Singh and Ors. 

2013 (9) SCC 419

Dispute was raised by the defendant No. 1 as that after partition of the joint Hindu family property, the land allotted to the share of defendant No. 2 became his self acquired property and he was competent to transfer the property in the manner he desired. It was held that the property which defendant No. 2 got by virtue of partition decree amongst his father and brothers was although separate property qua other relations but it attained the characteristics of coparcenary property the moment a son was born to defendant No. 2. 

It was held : 

“A person, who for the time being is the sole surviving coparcener as in the present case Gulab Singh was, before the birth of the plaintiff, was entitled to dispose of the coparcenary property as if it were his separate property. Gulab Singh, till the birth of plaintiff Rohit Chauhan, was competent to sell, mortgage and deal with the property as his property in the manner he liked. Had he done so before the birth of plaintiff, Rohit Chauhan, he was not competent to object to the alienation made by his father before he was born or begotten. But, in the present case, it is an admitted position that the property which Defendant 2 got on partition was an ancestral property and till the birth of the plaintiff he was the sole surviving coparcener but the moment plaintiff was born, he got a share in the father’s property and became a coparcener. As observed earlier, in view of the settled legal position, the property 9 in the hands of Defendant 2 allotted to him in partition was a separate property till the birth of the plaintiff and, therefore, after his birth Defendant 2 could have alienated the property only as karta for legal necessity. It is nobody’s case that Defendant 2 executed the sale deeds and release deed as karta for any legal necessity. Hence, the sale deeds and the release deed executed by Gulab Singh to the extent of entire coparcenary property are illegal, null and void. However, in respect of the property which would have fallen in the share of Gulab Singh at the time of execution of sale deeds and release deed, the parties can work out their remedies in appropriate proceeding.” 

SHYAM NARAYAN PRASAD VS KRISHNA PRASAD AND ORS.

AIR 2018 SC 3152

It was held : 

"It is settled that the property inherited by a male Hindu from his father, father’s father or father’s father’s father is an ancestral property. The essential feature of ancestral property, according to Mitakshara Law, is that the sons, grandsons, and great grandsons of the person who inherits it, acquire an interest and the rights attached to such property at the moment of their birth. The share which a coparcener obtains on partition of ancestral property is ancestral property as regards his male issue. After partition, the property in the hands of the son will continue to be the ancestral property and the natural or adopted son of that son will take interest in it and is entitled to it by survivorship." 

GOVINDBHAI CHHOTABHAI PATEL & ORS. VS PATEL RAMANBHAI MATHURBHAI

AIR 2019 SC 4822

It was held that : 

"That person who purchased the property, therefore, he was competent to execute the Will in favour of any person. In the absence of any intention in the Will, beneficiary would acquire the property as self-acquired property . The burden of proof that the property was ancestral was on party  claiming property being ancestral plaintiffs alone. It was for them to prove that the Will intended to convey the property for the benefit of the family so as to be treated as ancestral property. In the absence of any such averment or proof, the property in the hands of Donor has to be treated as self-acquired property. Once the property in the hands of Donor is held to be self-acquired property, he was competent to deal with his property in such a manner he considers as proper including by executing a gift deed in favour of a stranger to the family."

Arshnoor Singh vs Harpal Kaur & Ors. AIR 2019 SC 3098

It was held :

"That the rule under Mitakshara law that whenever a male ancestor inherits any property from any of his paternal ancestors upto three degrees above him, then his male legal heirs upto three degrees below him would get an equal right as coparceners in that property will apply in cases of succession which opened before Hindu Succession Act 1956.....It was settled law that the power of a Karta to sell coparcenary property is subject to certain restrictions viz. the sale should be for legal necessity or for the benefit of the estate. The onus for establishing the existence of legal necessity is on the alienee." 

Vijay A. Mittal & Ors. v. Kulwant Rai (Dead) through LRs & Ors., 

(2019) 3 SCC 520

It was held :

"It is settled law that the power of a Karta to sell coparcenary property is subject to certain restrictions viz. the sale should be for legal necessity or for the benefit of the estate." 

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