|
Dear All, My question is :- A- BROTHER AGE 28 IN MUMBAI |
| B- BROTHER AGE 42 IN UTTAR PRADESH |
| C-MOTHER AGE 69 IN UTTAR PRADESH |
| "A" TRANSFER RS. 600000 TO "B" ACCOUNT FOR THE PURPOSE OF PURCHSES A PROPERTY IN UTTAR PRADESH |
| BUT PROPERTY PURCHASED ON THE NAME OF MOTHER |
| HOW WE CAN SHOW ALL THE ENTRY IN BALANCE OF MR. "A" & MR. "B" |
| "A" & "B" IS THE INCOME TAX ASSESSEE BUT MOTHER IS NOT A INCOME TAX ASSESSEE |
Case I
Mr A can Gift the whole amount to Mr. B, and Mr B can also show Purchased Propeprty as Gift to mother.
There will not be any Tax Liabilties in any case neither in the hand of Mr. B nor Mother.
There is no need of PAN to your mother for receiving gift.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
