banner_ad

Sir, i want to know can son construct building in father's land (i.e land in name of father)with son's own capital.?

1043 views 6 replies
Sir, A building has been constructed by son,on land and this land is in the name of father,as the land is in the name of father construction of building shown in father IT file.Now in the IT file of father capital is less can loan from son be shown in the father IT file.
Replies (6)

What was agreement/understanding between father and son before initiating construction of building?

Depends upon the agreed terms, even son can hold the property in his file.

Nothing such agreement has been made,the building has been in under construction  which expenses is bear by the son.Building has been shown in father's IT return.Now less capital in father File,what are the options availiable here to increase the capital in father file.

Well, if you wish the capital from son can be shown as loan or gift in father's file; but plan and act according to the future course of action.

Does the father wish to keep the building in his name? or wish to sell? etc.

NO father wish to keep in his name building.

Sir,

      Can son shows the expenses incurred in construction of building in his IT file .Though its in the land name of father.

If father wishes it to keep in his name, son has to show it as loan/gift to father. Or father and son should jointly show ownership of the building with a mutual agreement of understanding.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details