I bought a property in the name of my wife in the year 2009 and the payment is done through my NRI A/c. Is it a benami transaction n if yes then how can i rectify. Pls help.
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NRI bought a property in the name of my wife is it benami
Replies (6)
Please confirm whether my understanding is correct or not:-
You are NRI who has purchased property in your wife's name from funds held in NRI A/c.
Technically speaking the case can fall as benami transaction, but since the purchaser is your wife you can show the amount as loan to her in your books of account.
Anuj
+91-9810106211
femaquery @ gmail.com
I presume funds have been transferred from NRO or NRE account.
Anuj
+91-9810106211
femaquery @ gmail.com
Funds have been transferred from NRE A/c
Any solution pls..
If such houses have been sold than there is trouble from RBI also.
Anuj
+91-9810106211
femaquery @ gmail.com
A benami transaction was one where property was purchased or transferred in the name of one person but another person paid the consideration for the transfer.
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