If a person receives money from son in law(exempt from tax under Sec-56) and invests that amount in property in his own name , if rental income from that property will be clubbed in son in law income or his own income?
Also, when he sells that property, will capital gains be taxable in hands of son in law or in his own hands?
If he later sells the property and decides to transfer this amount to his daughter in inheritance, will it change anything?
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