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Property Purchase for friend

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538 Points Joined October 2020
Dear Sir, I paid Mr. A. Rs. 60 lac to purchase a flat, but I want to register this flat(house property) in the name of my friend, my friend will face any problem from income tax department or any penalty to my friend, pls..
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On 01 March 2024 at 20:02 Report
Replies (24)
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"Do the Right Thing...!!!"
128147 Points Joined January 2015
You paid sixty lakh for purchase of property...
Register the property in friend name...

is the amount is Your amount...??

Are You give it as gift...???
1 Reply
On 01 March 2024 at 20:33
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Finance
4566 Points Joined September 2020

Looks like oops here. Sorry

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On 02 March 2024 at 08:07
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Finance
4566 Points Joined September 2020

Coming to think of this situation you are both wronng in expressing in a different terminology. 

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On 02 March 2024 at 08:07
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"Do the Right Thing...!!!"
128147 Points Joined January 2015
Originally posted by : Yasaswi Gomes new
Looks like oops here. Sorry

Nothing to worry...

It's happening...

1 Reply
On 02 March 2024 at 08:37
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Finance
4566 Points Joined September 2020

Mr Raja PM, have a nce weekend

1 Reply
On 02 March 2024 at 09:07
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"Do the Right Thing...!!!"
128147 Points Joined January 2015
Originally posted by : Yasaswi Gomes new
Mr Raja PM, have a nce weekend

No weekend Dear...

All days are working day...

1 Reply
On 02 March 2024 at 09:29
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Chartered Accountant
86505 Points Joined April 2011
Your friend may get notice for showing the source of such a high money transaction but it depends on return filed by your friend, his income and many other factors.

So you need to clarify more about your query that how your friend will pay the sum ??? and from where he get that sum in his account
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On 02 March 2024 at 10:04
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Profession Business
28196 Points Joined May 2017
PURCHASE THE PROPERTY IN your name to be transferred later on.
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On 02 March 2024 at 12:22
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538 Points Joined October 2020
Dear Sir, I don't want to gift money or property to my friend, flat registration will be made in his name, and he will give money within 3 years, any problem to me or my friend, pls..
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On 02 March 2024 at 15:51
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Chartered Accountant
86505 Points Joined April 2011
No problem is there in such case.
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On 02 March 2024 at 15:56
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"Do the Right Thing...!!!"
128147 Points Joined January 2015
Originally posted by : Tapas Samadder
Dear Sir, I don't want to gift money or property to my friend, flat registration will be made in his name, and he will give money within 3 years, any problem to me or my friend, pls..

Well...

No issues about this...

You can consider as loan to Your friend.

 

 

I'm waiting for Your reply about Your question.

Then only I can reply correct way...

Assumed replies can't bring solution itself 

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On 02 March 2024 at 16:33
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Profession Business
28196 Points Joined May 2017
I will purchase a property in.my name and gift to someone
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On 02 March 2024 at 21:25
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"Do the Right Thing...!!!"
128147 Points Joined January 2015
Yes You can give My Dear Great Expert Mr Sabyasachi Mukherjee...

Bcoz, You are the great man in CCI.
So, You can give anything...
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On 02 March 2024 at 21:29
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Chartered Accountant
86505 Points Joined April 2011
He can give all replies tooo using the title of query.
2 Reply
On 02 March 2024 at 22:08

Summarize this with AI
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