12 October 2011
Please let me understand your case.
Please confirm whether my understanding is correct or not:-
You are NRI who has purchased property in your wife's name from funds held in NRI A/c(I.e. NRO or NRE).
Technically speaking the case can fall as benami transaction, but since the purchaser is your wife you can show the amount as loan to her in your books of account.
CAclubindia
