SENIOR CITIZEN ( 70 YRS) SOLD AGL LAND OF ANCESTROL PROPERTY AND HE GOT HIS SHARE OF 8 LAKHS TO HIS ACCOUNT IN AUGUST 2022 , IN DEC 2022 HIS DAUGHTER PURCHASED HOUSE PROPERTY IN HIS NAME FOR 64 LAKHS ( 8 LAKHS HE HELPED FOR DOWN PAYMENT + REMAINING AMOUNT LOAN BY HIS DAUGHTER).
IN AIS PURCHASE OF IMMOVABLE PROPERTY IS REFLECTING, IS THERE ANY TAX IMPLICATION FOR HIM.
Please help!!!
CAclubindia
