1. I have to buy a car and want to buy one in my wife’s name who is a housewife. Would there be any problem?
2. Car value would be around 25 Lakh
3. Is there any problem if I pay from my saving (by cheque or account-to-account transfer to car dealer) and do not take any car loan?
I am a service class person and all money is my saving. Please suggest so that no Income Tax surprise notice I get in the future.
Thank you in advance.