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Property Purchase for friend

853 views 24 replies

Tapas Samadder

538 Points Posted on 01 March 2024

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..

Replies (24)

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 01 March 2024

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...???

Yasaswi Gomes new

Finance

4566 Points Posted on 02 March 2024

Looks like oops here. Sorry

Yasaswi Gomes new

Finance

4566 Points Posted on 02 March 2024

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

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 02 March 2024

Originally posted by : Yasaswi Gomes new
	Looks like oops here. Sorry

Nothing to worry...

It's happening...

Yasaswi Gomes new

Finance

4566 Points Posted on 02 March 2024

Mr Raja PM, have a nce weekend

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 02 March 2024

Originally posted by : Yasaswi Gomes new
	Mr Raja PM, have a nce weekend

No weekend Dear...

All days are working day...

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 02 March 2024

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

sabyasachi mukherjee

Profession Business

28207 Points Posted on 02 March 2024

PURCHASE THE PROPERTY IN your name to be transferred later on.

Tapas Samadder

538 Points Posted on 02 March 2024

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..

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 02 March 2024

No problem is there in such case.

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 02 March 2024

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