Purchase of new property by wife
This query is : Resolved
DIVYESH JAIN
(Querist)
27 April 2022
Dear Sir,
One of my client is purchasing a new property in which she wants to keep her husband as the owner of the property whereas she will be the sub-owner of the property as she already has another property in her name.
The housing loan got approved in the wife's name hence bulk of the payment for purchasing of the property will go from the wife's account.
My query is will there be any compliance issue if the property is kept in the husband's name considering the above factors. The property will be kept on rent and the rent will be received in husband's bank account.
Regards,
Divyesh Jain
One of my client is purchasing a new property in which she wants to keep her husband as the owner of the property whereas she will be the sub-owner of the property as she already has another property in her name.
The housing loan got approved in the wife's name hence bulk of the payment for purchasing of the property will go from the wife's account.
My query is will there be any compliance issue if the property is kept in the husband's name considering the above factors. The property will be kept on rent and the rent will be received in husband's bank account.
Regards,
Divyesh Jain
CA R SEETHARAMAN
(Expert)
28 April 2022
Clubbing provisions applicable rent received by the husband will be clubbed in the hands of wife.
Investment in the name of husband will be considered as gift.
Investment in the name of husband will be considered as gift.
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
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Missed uploading GST Invoice
- Movement of goods by packers and movers - type of sale - Reg.
- ARCA LOGIN
- Appointment of Auditor By Form ADT-1
- TDS Return Statement Status
- Closer of business and itc of capital goods
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
