Navigating Legal Rights in Family and Business Matters

FLO Mumbai in association with Trilegal organized “Navigating Legal Rights in Family and Business Matters” an interactive session as part of the FLO Mumbai Legal Cell – navigating legal rights in family and business matters at Trilegal, One World Centre, Lower Parel. The session was moderated by FLO Mumbai member and Family Lawyer Aditi Mohoni.

The session featured a Partner at Trilega, Mr. Tanmay Patnaik as the speaker of the day. Mr. Patnaik mentioned that Parsis and Muslim community members do not fall under the HUF pursuit of legal rights. Anything inherited in a will is non-taxable and inheritance under a gift deed is taxable under capital gains tax. In Maharashtra, Chennai, and West Bengal a will needs to be probated especially if there is immovable property. With evolving legal frameworks, he noted that some positive changes have been implemented, such as the recent modification allowing four nominees in financial matters.