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The forms that assessees use to submit information about their income and taxes to the Income Tax Department are called income tax returns. A person cannot carry forward certain losses if they file a late return. All of this has led to the requirement that you submit a tax return each year. During this procedure, it is determined whether you are entitled to a refund of the taxes you have already paid or if you owe more taxes than you have already paid to the federal government.
Read MoreIt is the sales tax charged and levied on the sale or supply of goods or services on which sales tax is leviable. Sales tax is an amount of money, calculated as a percentage, that is added to the cost of a product or service when purchased by a consumer at a retail location.
Read MorePersons who are deriving income only from salary and other sources, where salary is more than 50% of Income can avail this form.
Read MorePrior to the Registration and Filing of your Income Tax Return, it is suggestible that you should establish a basic understanding of these processes.
Read MoreA gift of property, involves conferring the ownership of one’s property on to another, through a gift deed. Gifting a property through a gift deed to a near and dear one, has certain monetary implications that you should consider first.
Read MoreA Gift Deed is a legal document that records the transfer of ownership of the property from a donor to a donee. It also specifies that the transfer was made voluntarily without any exchange of money between the two parties. Unlike executing a sales deed, there is no financial transaction involved in the process of gifting a property.
Read MoreA partnership is a kind of business where a formal agreement between two or more people is made. They agree to be co-owners, distribute responsibilities for running an organisation and share the income or losses that the business generates. These features of partnerships are documented in a document which is known as partnership deed.
Read MoreA sale deed is a legal document that is used during a property transaction as an evidence of sale and transfer of ownership of a property from a seller to the buyer. This is the main document for the transfer of ownership. A sale deed is also referred to as the final deed or conveyance deed.
Read MoreDissolutions of Marriage can be done by way of Talaq or Khula General Information A Muslim Marriage is a contract and can be dissolved like any other contract. It is automatically dissolved on the death of one of the spouses. Other than this, both wife and husband have legal and religious rights to dissolve a marriage. A husband has the unilateral right of talaq, which can never be taken away but can be restricted through the nikahnama. A wife can dissolve her marriage unilaterally only if the right of divorce has been unconditionally delegated to her by the husband in the nikahnama.
Read MorePartnership deed is a partnership agreement between the partners of the firm which outlines the terms and conditions of the partnership between the partners. The purpose of a partnership deed is to provide clear understanding of the roles of each partner, which ensures smooth running of the operations of the firm.
Read MoreA Search Certificate is issued by the Registrar of Titles to confirm that a
registered proprietor can deal with the land referred to in the Certificate. The
Certificate will show all incumbrances e.g., mortgage, leases, caveats and
pending dealings lodged for registration but not yet registered. The Certificate is
signed by the Registrar of Titles or duly authorized officers and the Seal of the
Office affixed
A family settlement deed is also known as a family compromise agreement. It is an arrangement or a legal document between the family members that records that all family members agree to common terms and conditions in the event of any disagreements. This agreement involves participation and needs to be signed by all the members acknowledging that this agreement was not made through fraudulent means, force, and coercion from any family member. It is normally in the context of resolving a disagreement.
Read MoreThe purpose of a shareholder agreement is to ensure that shareholders are protected and treated fairly, and it allows them to make decisions on the third parties who may become shareholders in the future. Although it is designed to protect all shareholders, a shareholder agreement is more important to minority shareholders since it outlines the majority shareholders’ obligation to protect minority shareholders against abuse and give them a voice when key decisions are made.
Read MoreA rental agreement is a contract (written or oral) under which a landlord allows a tenant to use and occupy its property for short time periods. Commonly, a rental agreement has a monthly duration to the extent it expires and is renewed by the parties each month. In exchange for the tenancy, the tenant makes the agreed rental payment to the landlord.
Read MoreIn case of the sudden demise of a family member, a legal heir certificate must be obtained to transfer the deceased’s assets to their legal heir/s. A legal heir certificate is an important document to establish the relationship between the deceased and their legal heir/s. Once the death certificate is obtained from the municipality/corporation, the successors can apply for this legal heir certificate to claim their right over the deceased person’s properties and dues. Usually, lawyers help draft and register a legal heir certificate.
Read MoreA sales tax is a consumption tax imposed by the government on the sale of goods and services. A conventional sales tax is levied at the point of sale, collected by the retailer, and passed on to the government. A business is liable for sales taxes in a given jurisdiction if it has a nexus there, which can be a brick-and-mortar location, an employee, an affiliate, or some other presence, depending on the laws in that jurisdiction.
Read MoreA will is a legal document that allows people to express their wishes posthumously for how their property should be managed and distributed after their death.
It is not essential to make a will (sometimes known as a last will and testament) before you die. However, not having one could lead to legal, logistical, and emotional headaches for family and friends after your death in order to secure your assets or care for your children.
Generally, the use of relinquishment deed arrives when the owner of the property dies without writing a will. Let us understand with an example:-
If Mr Ashok, who has two sons, dies due to heart attack without having a will. Now, the elder son wants to give property rights to the younger brother, in this case a relinquishment deed will be needed. When such a situation arises, a relinquishment deed is created. The deed can only be created only between the co-owners. Once the deed is ready, you should get it registered.
A compromise agreement is a legally binding agreement between a business and an employee under which the employee agrees to settle their potential claims and in return the employer will agree to pay financial compensation. Sometimes the agreement will include other things of benefit to the employee, such as an agreed reference letter.
Read MoreAn agreement of sale constitutes the terms and conditions of sale of a property by the seller to the buyer. These terms and conditions include the amount at which it is to be sold and the future date of full payment.
Read MoreA power of attorney is a legal document that allows someone else to act on your behalf.
Read MoreThe process whereby a party is made aware of the commencement of legal proceedings affecting their rights, obligations or duties.
Although the format may vary, there are strict requirements regarding service of a legal notice which must be adhered to if the legal notice to be effective.
Legal advice is the giving of a professional or formal opinion regarding the substance or procedure of the law in relation to a particular factual situation. The provision of legal advice will often involve analyzing a set of facts and advising a person to take a specific course of action based on the applicable law.
Read MoreReach out for legal advice related to Family matters, Civil matter and criminal matter.
Read More1. Civil: Lawsuit, contract, negligence, liability, damages, settlement, arbitration, mediation, injunction, jurisdiction.
2. Criminal: Defendant, prosecution, evidence, indictment, plea bargain, sentencing, probation, appeal, acquittal, conviction.
3. Family: Divorce, custody, alimony, child support, adoption, paternity, prenuptial agreement, guardianship, visitation rights, domestic violence.