My sister is single 47 years she does not have any property in her name right now but soon she is planning to buy a home on cash worth about 25 to 30 Lakhs. She never been a salaried employee. Buying source may be the family money but can also come from borther in the form of gift or home saving. she lived abroad in the past but from 5 years she is in India (Hyderabad). past saving will be used to buy land or construction or the joint property with brother.
She never had ITR filed before and there is no occupation exept home tuition which is not in tax slab.
Does she need to have ITR filed before buying the property
or it is not needed
or after buying property on her name she can declare this in ITR
If it is joint property with brother he is paying the money and puting her name in documents still she will require the ITR declaration?
CAclubindia
