Income Tax impact-Purchase & sale of house property by Indian resident through relative's NRI funds

ITR 2702 views 1 replies

Person A (Indian resident) received funds via bank account from NRI relative to invest in house property in India. Proceeds from sale of the same house property were credited to Indian resident's account & remitted back to NRI relative.

What are the possible implications from Income Tax perspective for both Indian resident & NRI relative, and the actionables required?

Replies (1)

Who signed the sale deed?

Whether it was signed on behalf of NRI?

Whether TDS was deducted? if yes, under whose PAN?


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