Payment of tax
This query is : Open
02 August 2017
If parents purchase house in the name of son, will the son have to pay any tax?
02 August 2017
At the time of purchase, son needn't pay any tax . This can be considered as house bought by gift money from relatives.
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02 August 2017
however, capitalgains at the time of sale or transfer of the property will be taxed in son's hands
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