Money to friend for buying land in my name

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 April 2012 Hi

Can i transfer money to a friends account who can pay towards buying a site in cash in my name.Actually, that friend's husband is in cooperative society from which i am buying the site.

I will get the site registered in my name as well as i will have all the payment bills also.

Are there any problem with this transcations.

thanks and rgds

CS, Deepak Pratap Singh

CS, Deepak Pratap Singh (Expert)
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06 April 2012 Dear Friend, You can pay the Cash by drawing from your account also. The amount transferred in your friend's account will be treated as loan and income for the purpose of his income tax.This will not affect your tile or tax. Thanks