[Ays7]

Originally Posted by swiftLife

Thanks guys for replying. My only question here is that how was I supposed to know that ACs are not effective in kitchens.
Neither on Daikin's website and nor by the authorized dealer I was given any information on this.

I knew life of ACs is less in kitchen and I am okay with it but if the AC is ineffective (which I now know practically), I won't have purchased it in the first place

I know you are in a sticky spot, But in law there is a principle called "Caveat Emptor" which means "Buyer Beware" It means buyer has to exercise all due caution and precaution before buying a product. So unfortunately, in my humble opinion, the due diligence should have been properly carried out by you and double checked and reconfirmed.

[Fuldagap]

Originally Posted by vinu_h

Folks my question is both will / nominee and telecom operator related.

Most websites today like bank accounts, EPF, NPS, Morgan stanley, E trade, ICICI direct etc ask for an OTP upon logging in/withdrawal. Say the primary account holder passes away at an accident and the mobile phone too is lost, will legal heir(s) be able to have a replacement SIM issued on the back of the fact that they are legal heir(s) ?

I am of the understanding that there is no concept of nominee in the case of a telecom operator, so such requests will be turned down. While username and password can be left behind, OTP will surely be needed to login and to withdraw.

Thanks in advance.

The legal heir is supposed to approach the bank for death claim with supporting documents.

[vinu_h]

Originally Posted by Fuldagap

The legal heir is supposed to approach the bank for death claim with supporting documents.

Originally Posted by Jaguar

Not a lawyer.

My understanding is that if the account holder is no more, the nominee or legal heir is not supposed to login and transact on the account. Rather they should inform the bank who would transfer the funds to the nominee's account and close the original account.

You're right, the process is quite simple when it comes to a savings account. However an OTP is required to operate EPF, NPS, Morgan stanley, E trade, ICICI direct etc. Will telecom operator(s) issue a replacement SIM to the legal heir of the original owner ?

[Fuldagap]

Originally Posted by vinu_h

You're right, the process is quite simple when it comes to a savings account. However an OTP is required to operate EPF, NPS, Morgan stanley, E trade, ICICI direct etc. Will telecom operator(s) issue a replacement SIM to the legal heir of the original owner ?

I know about Airtel. They issue the replacement SIM to legal heir. A nearby Airtel office will do that. Sometimes you may have to be constantly after them, sometimes it is quick and easy. If the applicant is the son/daughter/spouse/parents of the person, then the death certificate of the person suffices. Otherwise an affidavit might be needed.

Email the operator or visit a nearby office. The process is same like banks.

By the way, the other institutions that you mentioned also have the same process. Shares are transferred to legal heir after death claim.

It would be legal to not trade now since the person has demised. Better to claim through proper process to all the institutions mentioned.

[NetfreakBombay]

Originally Posted by vinu_h

Will telecom operator(s) issue a replacement SIM to the legal heir of the original owner ?

Yes, documents required are :

1. Death Certificate , ID of current owner
2. KYC of new Owner
3. Legal Heir Certificate

Third document from court absolves telecom company of risk.

Do keep in mind that process takes quite some time, ensure that SIM remain active in this duration. Keep paying bills / doing recharges. If SIM becomes inactive, there is no easy way.

[SB08121980]

My friend and his younger brother were assualted by a group of persons . They reported the incident to the local police station and also got a Injury report done on the very same day . They were issued a General Diary number . But it seems Police are reluctant to take any action against the culprits even after providing all the names . The police haven't even questioned my friend and his brother regarding the incident . Due to this, there has been a delay of 3-4 months . Now, if my friend approaches the Court of Law , for filing Criminal case, will that be refused on the ground that there is a delay of 3-4 months in approaching the Court ?

[Ays7]

Originally Posted by SB08121980

Now, if my friend approaches the Court of Law , for filing Criminal case, will that be refused on the ground that there is a delay of 3-4 months in approaching the Court ?

Have you filed a written complaint to the police first? Specifically asking them to take an FIR? You need to do that first, saying that your police station has record of it but for some reason an FIR was not lodged despite this being and heinous and serious offence. Take an acknowledgment on the complaint copy.

If they don’t take action in 15 days, forward that complaint to Local DCP asking him to direct the local police station to take FIR.

If nothing is done for another 15 days then you can approach the local magistrate with an Application u/s 156(3) CrPC praying that local police station be directed to take FIR.

The magistrate will hear you and then decide if a case is made out for further inquiry and will do one of three things:-

1. Direct police station to register an FIR and conduct further investigation.
2. Reject your application saying facts of the case do not show any offence was committed.
3. Reject your application but put up the matter for verification where you can submit evidence - and magistrate may look at the same and decide that this case is fit for private case and may register a private case against the accused persons.

Hope this helps.

[vinu_h]

Good day.

How much does it cost to file a caveat petition ? I understand it can be filed online. If you could please include the breakup like court fee + lawyer's fee etc in your response, thank you. In case filing a caveat is a simple process, any links you can provide that guides one on how to do it themselves w/o a lawyer is also welcome.

[TSS]

Respected CA's on Team-BHP,
Can anyone give me an opinion on the below:

I plan to buy a car that shall attract TCS.
The car will be in my name but will be entirely funded from my wife's bank account.
Both of us file our tax returns. After filing tax returns next year, the TCS refund would be credited in my bank account.

Hope there is no issue with this

[bijims]

Originally Posted by TSS

Respected CA's on Team-BHP,
Can anyone give me an opinion on the below:

I plan to buy a car that shall attract TCS.
The car will be in my name but will be entirely funded from my wife's bank account.
Both of us file our tax returns. After filing tax returns next year, the TCS refund would be credited in my bank account.

Hope there is no issue with this

There is no issue with this, as it is a case of payment made on behalf of the spouse, The car will be in the name of the husband who is the one liable to bear the burden of the TCS, there is no issue from where the funds come from, especially since it is from a close relative (wife), On claiming the TCS refund in your ITR next year, you can claim the TCS as it will reflect in your Form 26AS and AIS and the refund would be credited to your bank account.

[dailydriver]

I am unable to file IT returns for my spouse due to non-updation of bank account.

We have filed the returns all these years without any issues but this time, all previously added bank accounts are being shown as invalidated. Attempts to add/revalidate aren't being successful due to Bank-PAN-IFSC mismatch. I have very carefully verified the details and found them to be correct. However, there is a discrepancy between her name in PAN & AADHHAAR (as it has been for the last ten years, with absolutely no problems).

Her name in

PAN: Alpha Beta Gamma

AADHAAR: Gamma A B

Why is there a problem all of a sudden? Should the name in AADHAAR be updated to that in PAN? Any other solution?

[beez]

Originally Posted by dailydriver

Attempts to add/revalidate aren't being successful due to Bank-PAN-IFSC mismatch. I have very carefully verified the details and found them to be correct. However, there is a discrepancy between her name in PAN & AADHHAAR (as it has been for the last ten years, with absolutely no problems).

Her name in

PAN: Alpha Beta Gamma

AADHAAR: Gamma A B

Why is there a problem all of a sudden? Should the name in AADHAAR be updated to that in PAN? Any other solution?

Hi, I am neither a professional nor have faced the exact same situation. However, a similar issue happened in my wife's case. Her name was as shown below in

PAN: Alpha Beta

AADHAAR: Alpha B

She had been writing her name in "Alpha B" format in several places, and electoral ID card also had same format, which I think was submitted for Aadhar proof. However, PAN, by default, uses the expanded form. In Passport too, it was the expanded form, which she submitted as ID proof while joining her previous firm.

While she was employed there, she faced some issue related to this - not sure if the payroll site threw an error or there was an email (forgot!). Anyways, the issue was the same - name in Aadhar not matching with office records/PAN. The easiest option was to update Aadhar to match the PAN, and we updated name in Aadhar to "Alpha Beta" format. This resolved the issue.

I will wait for the experts to give their opinion on this - just shared my experience.

[adisan]

Originally Posted by dailydriver

Bank-PAN-IFSC mismatch.

A Google search suggests that the above error is shown when the bank account is not linked to the correct PAN, and that once the bank account - PAN linking is completed, attempt to revalidate the bank account on the I-T portal should be successful, and thereafter I-T return can be filed.

Both the below sites provide details regarding the quoted error:
"How to Pre-validate Your Bank Account for Income Tax Refund?" in TaxBuddy
"What is Restricted Refund On Income Tax Portal?" on ClearTax

PS:
I am not an expert in the subject matter.

[sumeethaldankar]

I inquired with a legal service (yellow) to get a legal heir document as my father passed away last year. The service got back saying that it has be filed in the high court and will take 8 to 10 months and will cost 1 lac Rs in Mumbai. I only need the legal heir document to file tax. My dad had crossed 80 when he passed away last year so legally he was exempted from filing tax. One friend's CA said since age is more than 80 then don't bother to file the tax. Not sure what to do here. Also as per the official web site all it needs to obtain legal heir document, which is needed to file tax in case the taxee is deceased, is to visit the local Tahshildar office and a revenue stamp of 2 Rs on the needed documents. Not sure why the legal team is asking for so much money and time. I had approached them as they had promised to handle everything end to end meaning no hassle free process for me. To close the account as I think I need the legal heir document. Any suggestions.

Thanks.

[green_ninja]

I have a query regarding LTCG and Capital Gains Exemption under 54EC on the sale of a land. I acquired a 16800 sqft piece of land ( 6 individual plots of 2800 sqft each) in 1996 at a cost of Rs. 70,000/- total. I am planning to sell these plots in batches of 2+1+2+1 during FY24-25 (~July 24 - Feb 25) for a consideration of 9,50,000/- per plot. The total sale comes to 57,12,000/- for all plots together. The earliest available guideline value is Rs. 10/sqft from 2002. Nothing prior to that is available and I believe this is a reasonable number to assume for April 1, 2001 as well. Here are my doubts:

1. What is the indexed cost of acquisition for this property? My layman calculations indicate that it is about 6,09,000/-. Is this correct?

2. If the indexed cost of acquisition is correct, then LTCG is ~ 51,00,000/-. If I invest 50,00,000/- in capital gains bonds under section 54EC do I only have to pay capital gains tax on the balance 1,00,000/- ?

3. Since I am selling the property in 4 phases, do I have to calculate the applicable capital gains on each sale and invest that amount only in 54EC bonds or can I invest lumpsums not exceeding 50Lacs during the FY and then claim exemption based on that on sales later during the FY?

To be more clear, I will receive 19lacs on the first sale in July24, 9.5 lacs on the second sale in Sep24, 19 lacs on the third sale in Dec24 and 9.5lacs on the fourth sale in Feb25. If I buy 54EC bonds for the whole amount of the sale in each phase, I would have invested 47.5lacs by Dec24. Then, can I just buy bonds worth 2.5lacs in Feb25 and set aside the balance 7lacs from that sale?

Any help from the CAs/Tax professionals on T-Bhp would be much appreciated. Thanks in advance.