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?
Who signed the sale deed?
Whether it was signed on behalf of NRI?
Whether TDS was deducted? if yes, under whose PAN?
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
