Buying property
This query is : Resolved
15 July 2013
we have family of four me my parents and my brother all we have income under non-taxable income so we do not return file. now we are buying a property under 10 lakhs on my mothers name so what should we do regarding income tax purpose and for transaction of money through bank from my mother account because mother dont have enough money should we all off us show loan to my mom give the proper solution what is the maximum amount to be gifted and if we dont return a file the non taxable income is added in my asset every year
15 July 2013
you can show it as a loan or as a gift
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