banner_ad

payment of property by brother on behalf

This query is : Resolved 
Profile Image

Profile Image

(Querist)
26 September 2008 I have purchased a property and the some of payemnt was directly paid to seller by my brothr through his bank account and regisration of property was made in my name. What we (Brothers) should do as per IT rules .
Profile Image

Anil Kumar Kedia

Profile Image

Anil Kumar Kedia (Querist)
26 September 2008 Is it any contravation of Income tax law?
Profile Image

S.Srinivasaraghavan

Profile Image

S.Srinivasaraghavan (Expert)
26 September 2008 There is no contrvention of any law in your brother paying the price of the property which you have purchased. You (the purchaser) should show the source as borrowing/gift from your brother as the case may be. your brother will show in his books as loan/gift as the case may be.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
ARTICLESHIP 27 April 2026
CA Articled Assistant

GM Corporate Solutions

Noida

CA Final

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
02 May 2026
Experience Audit Manager

AGGARWAL SAMIR & CO

New Delhi

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details