I have booked an under construction apartment, whose possession will be given in 2024. As of now it is on name of my wife and her father but at the time of possession, it will be registered as ownership. It is not on loan, but as slabs are constructed, I am paying to my father-in-law and he would pass that money to builder.
I am in 30% tax slab. If I want to save money under 80C, having it on name of my wife would save it? Or keeping it on name of wife and her father would save? Suppose if I show that I am paying rent to them.
Or any other way I should opt? Till now I have no investment or no other income except salary. I am new to understand this tax thing, so asking help here.
Thanks in advance.