Maiden title received’t trigger problems in property dealings

I purchased a home in my title in 2007 after marriage. At that point, I had my PAN card and financial institution accounts in my maiden title. So, the home was registered in my maiden title. Later, I modified the title in my PAN card and financial institution accounts after I added my husband’s surname to my maiden title. Now, the home is registered in my maiden title, whereas all my paperwork and IDs have my husband’s surname added to my title. Will this anomaly create a complication later if I plan to promote the home or plan to bequeath it? What do I have to do to keep away from this complication in future?

—Mrs Khare

Typically, a change in maiden title put up marriage in India doesn’t create any complication referring to title to belongings. Also, assuming that you simply used your marriage certificates to vary your title in different paperwork, the change in title shouldn’t have an effect on any transaction in relation to the mentioned property to that extent.

I lately partitioned my Hindu undivided household and made a partition deed. Should I inform the earnings tax authorities about it? If sure, how? Is it essential to get the partition deed registered or notarized?

—Name withheld on request

Yes, you’ll have to intimate the involved tax officer in regards to the complete partition of the HUF. You can inform him/her by writing a letter, accompanied by a duplicate of the stamped and signed partition deed. Once you’ve gotten intimated the officer, he/she is going to look at the paperwork after which difficulty an order confirming the partition. It is beneficial that you simply method your chartered accountant to help you on this matter. Please observe that if there’s a written partition deed and the partition considerations immovable property owned by the HUF, the partition deed must be registered and satisfactory stamp obligation must be paid on the partition deed to the stamp obligation authorities.

Rishabh Shroff is companion, Cyril Amarchand Mangaldas.

Subscribe to Mint Newsletters * Enter a sound electronic mail * Thank you for subscribing to our publication.

Never miss a narrative! Stay related and knowledgeable with Mint.
Download
our App Now!!