MUMBAI : Raj went through a divorce five years ago and is now remarried to Anita (who is also divorced from her husband). Raj has two children from his previous marriage and one from his new marriage. Anita has one child from her previous marriage as well. Raj hasn’t formally adopted the child of Anita’s … Read more
My sister converted to Christianity although my family is Hindu. In the event of my father’s or mother’s demise, how would the succession of assets happen if they did not create a will? —Name withheld on request In the event of the demise of your father or mother without leaving a will, the distribution of … Read more
My father died due to covid two years ago and he didn’t leave behind any will. My mother, who is in her seventies, has clearly mentioned that she doesn’t want to write a will either. A few years back, I bought a flat in Mumbai with my mother as a co-applicant. I have paid regular … Read more
I inherited ₹20 lakh in cash and two house properties. Subsequently, I gifted ₹10 lakh in cash and one house to my maternal aunt residing in South Africa. Do I need to pay income tax on the entire inheritance, or only on the remaining amount after allocating my aunt’s share? Additionally, should I declare this … Read more