Hi Can any one guide me on this ?
I am planning to purchase a property in mumbai with my mom as co owner , My existing property is in the name of my dad which he has sold and amount is yet to be received. I have finalised the new property deal now i need to make the payments as per payment schedule in the MOU. My queries are below :-
- can i transfer the amount from my dads saving account to my account and issue the cheque from my A/c to the owner.
- my dad is also holding a joint account with my mom or else should i issue from her account as she is also a joint owner.
- The owner is asking me to withdraw some cash from A/c and show it as payment towards furniture and fixtures.
- Can i avail the benefit towards Pradhan Mantri Awaz Yogna as this is the will be the first property in my name.
- will there be any income tax query as i am salaried person and transactions in my a/c will be to the tune of 70 lacs.
Please give your guidance on this !
Regards
Dinesh
CAclubindia
