Advocate Rajinikanth

Questions Answered by Advocate Rajinikanth

Q: Cash received for property sale

Due to serious debt issues i was forced to sell my property which was registered for 33 lakhs. The buyer gave me 33 lakhs in cash to settle my home loan a month prior to registration. Ignorantly i too received the cash and deposited it in my account and settled my home loan. But the buyer lady registered the property only for 14 lakhs. When i told her to register for atleast 33 lakhs, she threatened me to return the 33 lakhs with interest. Since I didn't have money i consented for registration. Now i have received notice from IT dept asking explanation for high value transaction. I don't know how to account for it.

Advocate Rajinikanth answered
Sir, The guideline value of property 14 lakhs, the market value of property 33 lakhs. you should have received 14 lakhs from the bank. it was the fault of both of them it was all received in cash. You should advice to buyer

Q: Related Housing Loan and Loan Ots Related

I was taken housing loan in LIC loan amount is 37,92,000/- on 2016 and i was paid emi 35,300/- 45 month then i notable pay because my business loss so now I need details of OTS. yesterday i was spoke with lic manager he told me u want pay 38,00,000/- i want to reduce the amount any way in illegal. 45 emi × 15L I WAS PAIDED

Advocate Rajinikanth answered
Sir, They have set a housing loan schedule where interest is deducted for the first 5 years. For this they have said that you have to pay off the loan in full. You can file the Debt Recovery Tribunal to deduct the amount owed on the part amount from the loan amount.

Q: Grandfather house written in will to mother in law

Hi Sir /maamnnI am having a ongoing contestant divorce in court.i am having a 5 year old daughter.Could you please let help me in educating if my daughter could claim her great grand father and grandfather's house, so that it would be helpful for her future studies or marriage.

Advocate Rajinikanth answered
Hi, your daughter is entitled as per Indian Succession Act,1956. And that is after the time of your daughter’s father. Partition cannot be sought for undivided property. But you can ask your husband for maintenance money for your daughter’s education and livelihood.

Q: My grandfather split their property to their sons

My grandfather have two wifes first wife dies that why he got second marriage.First wife have 3 children (male)Second wife have 2 children (male)Now the property split into 5 partsThe problem is who get 1,2,3,4,5 partPlease tell the solution for that

Advocate Rajinikanth answered
Dear Client, Greetings, All 5 heirs of the first and second wives have equal rights under Indian succession act. 1 to 3 first wife’s heirs, 4 and 5 to decided by second wife’s heirs. Thank you

Q: doubt about loan recovery document

good evening I am proprietor of my concern (retail /wholesale dealer of construction material )when I gave a credit for my customer what will I do ? for my security purpose which document is valid for loan recovery and which is valid in court please tell me

Advocate Rajinikanth answered
Dear Friend, Greetings. If You Ara a GST registration dealer not worried the above said matter, because you are issue gst invoice and the same is evidence for the supply. And extra security purpose you will obtain post dated cheque.