Purchase of new property by wife
This query is : Resolved
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
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.
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