18 December 2023
What are the Income Tax Implications if the plot of land is owned by the Husband and commercial building/shop is constructed by his wife from her own funds? The Land is situated in Karnataka. Property Registration Queries A) Is the separate registration required for the building (under The Karnataka Registration Act, 1961), the purpose of the building is commercial shop and to fetch rental income? B) What type of documentation is required to have legal and separate ownership of Land and Building of commercial property?
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