My brother, an NRI, has a flat that he will be selling next month.
Is it ok to credit the token amount (1 lac) in a joint bank account in which his wife is the first holder and he is the second holder?
His NRO account will be functional when the actual sale takes place.
He plans to accept the sale amount in his own NRO account?
Is it ok if the token amount (1 lac) goes to one account and rest (50 lac ex of TDS) goes into another account?
Will there be any issue at the time of filing the ITR?
Both of Husband and Wife need to file Income Tax Returns separately based on the Capital
Gains Income and Tax Limit. Please arrange to compute Capital Gain Tax Workings with your Auditor.
They can receive the amount in two different account.
why both ?
| Originally posted by : S JEEVARETHINAM | ||
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Both of Husband and Wife need to file Income Tax Returns separately based on the Capital Gains Income and Tax Limit. Please arrange to compute Capital Gain Tax Workings with your Auditor. They can receive the amount in two different account. |
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