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Ans: As a widow and mother of two girls, you and your daughters have certain rights in relation to the ancestral agricultural land and the house left by your husband. The specific rights and entitlements may vary depending on the laws and customs applicable in your jurisdiction, so it is important to consult with a legal professional who can provide guidance based on the specific laws of your area. However, I can provide you with some general information about the rights of widows and daughters in ancestral property in India:

Hindu Succession Act: The Hindu Succession Act, 1956, governs the succession and inheritance of property among Hindus, including agricultural land and houses. According to the Act, as a widow, you have a right to a share in your husband's property, including ancestral property. Your daughters also have an equal right to inherit their father's property.

Rights as a Widow: As a widow, you are entitled to a share in your husband's property, including the ancestral agricultural land and the house. Your share would depend on the specific circumstances, such as whether there are any other legal heirs and the number of daughters you have. The specific share can vary based on the local customs or personal laws applicable in your area.

Daughters' Rights: In 2005, the Hindu Succession Act was amended to give daughters the same rights as sons in ancestral property. This means that your daughters have an equal right to inherit the ancestral agricultural land and the house along with any other legal heirs. They are entitled to an equal share in the property.

Partition of Property: In case there are multiple legal heirs, including yourself and your daughters, you have the right to seek a partition of the property. Partition involves dividing the property among the co-owners, giving each person their rightful share. If an amicable partition cannot be reached, you may need to approach the appropriate legal authorities for assistance.

Ans: No, Long Term Capital Gains (LTCG) earned by an individual cannot be invested in the house construction of their son to save income tax. Under the Income Tax Act, Section 54, an individual can claim an exemption from LTCG tax liability if they invest the sale proceeds in the purchase or construction of a residential house property. However, the exemption is available only if the individual invests the capital gain in their name and not in the name of their son. Additionally, there are other conditions that need to be fulfilled for claiming the exemption.

Ans: In your case, the date of acquisition for the purpose of calculating long-term capital gains (LTCG) will be the year in which your wife purchased the plot in 2006. This is because the plot was acquired by your wife in 2006 and then the house was constructed on it, which became her property. Therefore, the period of holding of the property will be considered from the year in which the plot was purchased by your wife.

If the property was sold after holding it for more than two years from the date of acquisition (i.e. after 2008), then the gains will be considered as long-term capital gains. The LTCG will be calculated as the difference between the sale price of the property and the indexed cost of acquisition.

Indexed cost of acquisition is calculated by multiplying the purchase price with the Cost Inflation Index (CII) of the year of sale and dividing it by the CII of the year of acquisition. The CII is notified by the Central Board of Direct Taxes (CBDT) every year.

It is important to note that LTCG tax rate on the sale of property is 20%, and you can claim exemptions or deductions such as reinvestment of the sale proceeds into another property or investing in specified bonds to lower the taxable LTCG amount.

Ans: Dear SS,
Your nephew needs a good lesson on how to treat people and especially his wife.
Who gave him the right to hit her? Would he be willing to to allow anyone else to treat him the same way?
And when you say: It's only because of the beating that their marriage is destroyed; my question to you is: What else is there to talk about?

Your nephew needs some expert help where they will identify his core and deep issues that lead him to behave the way that he does. If his wife is interested in the marriage and he also wants to change his behaviour, please seek the help of a psychologist. If he continues this way, it is better his wife moves away and moves on.

All the best!

Ans: There is a formula to calculate the LTCG for land and the building seperately.

Ans: In case of property received under a will, cost to previous owner is considered. Accordingly, in your case cost incurred in 2006 will also be considered .

Ans: No

Person who earn capital gain is required to invest gain amount in another property to claim tax exemption within prescribed time limit.

Ans: Bank can check it from Income Tax Portal. Special option is available for banks.