Query on a new flat deal

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 March 2015 My father sold an old property and received 27.5lakhs. Now he wants to buy a new flat for me. I am not working. My husband is taking loan for the property. The new flat costs 40.50lakhs. The builder said the registration wil be done on 30lakhs. and he wants 10.5 in black. My father used 3lakhs for my marriage and 24.5lakhs is remaining wit him.

After indexing we are told that My father needs to show 17lakhs as his contribution towards new flat.

Now my question is how wil he show his contribution in the new flat so that he is excempted from tax ?

In whose name the new flat should be registered ?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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18 March 2015 your father must be atleast the co-nwer in new property if not the sole owner and must utilise the capital gain from sale of old property.

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Querist : Anonymous

Querist : Anonymous (Querist)

18 March 2015 But the problem is DHFL says that he cannot be a co owner for this particular flat deal.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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18 March 2015 for what reason he cannot be a co owner for this flat?

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