one of my clients want to purchase a FLAT worth of Rs. 47 Lakhs (including stamp duty n all costs) in name of her mother (she is not a taxpayer), and he does not want to take home loan as he has already adequste cash at bank in his family member's bank account. e.g. his personal bank a/c, his father's bank a/c and her mother's bank a/c. will it be beneficial as per TAX norms or it is good to buy property taking home loan...??? his father & himeslf are taxpayers but her mother is not. please clarify sir.
CAclubindia
