Property sales
This query is : Resolved
Moosa Tamijuddin
(Querist)
03 July 2017
Hi all.
I bought two plots in Chennai in 2004 before coming back to India from Saudi Arabia on final settlement. I registered one plot in my daughter's name and the other in my son's name. After his marriage in 2006, my son got employment in Canada and now his entire family lives in Canada under Canadian Passports for the past 7 years. How could I sell the plot in my son's name since he doesn't have either Indian Passport or Aadhar Card.
Our house inherited from my father, only me and my wife living in it since I am the only heir for my parents, also needs to be bequeathed both to my son and daughter.
Would somebody kindly advise me how could I accomplish both the tasks mentioned above.
Thanks in advance.
I bought two plots in Chennai in 2004 before coming back to India from Saudi Arabia on final settlement. I registered one plot in my daughter's name and the other in my son's name. After his marriage in 2006, my son got employment in Canada and now his entire family lives in Canada under Canadian Passports for the past 7 years. How could I sell the plot in my son's name since he doesn't have either Indian Passport or Aadhar Card.
Our house inherited from my father, only me and my wife living in it since I am the only heir for my parents, also needs to be bequeathed both to my son and daughter.
Would somebody kindly advise me how could I accomplish both the tasks mentioned above.
Thanks in advance.
CA R SEETHARAMAN
(Expert)
04 July 2017
1 You could sell your son's property with tax residency certificate and tax account number(Canada) of your son. Full tax applicable on this sale has to be deducted by the buyer.
2 Register a gift deed for transfer of your house to son and daughter.
2 Register a gift deed for transfer of your house to son and daughter.
Moosa Tamijuddin
(Querist)
04 July 2017
Thank you very much indeed, Seetharaman Sir.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
