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Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2015 EXPERTS ,

My grandfather bought an agriculture plot in 1995 in my name . At that time i was 5 years old . Now my grand father is no more . My father and mother was unaware from the fact that my parents should have drafted a gift deed from my grand father . I recentall contacted a CA to file my income tax return and i mentioned the income also from my that agriculture land apart from my coaching income . My CA told me arrange some documents for the amount given by your grandfather to purchase that land otherwise it will be added in your father or mother income and will be considered as undisclosed income .... my parents have no clue what to do now .... The person is still alive with whom my grandfather was involve while purchasing that land . Land seller is still alive . Can we prepaer a affidavit from him to ensure IT authority that it was not my parents while dealing or purchasing it was my grandfather . Will it support me ...

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 July 2015 Your CA is misguiding you, it is not an undisclosed income which will be added to your father or mother income.
Approach another experienced CA.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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21 July 2015 will have to agree with seetharaman...the solution is simple...once the owner has passed on, the legal heirs needs to get the mutation done for the property. instead of a CA, talk to a lawyer dealing with property matters.

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Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2015 Sir , My grandfather purchased land in my name but i dont have any gift deed to support that ... Now he no more , but who sold th property is alive . Can his written letter in behalf of me can support me ... i will notarize that letter. will it work ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 July 2015 Do you have the document for the land registered in your name. If it is their it is enough. The land was purchased 20 years back no sources of income will be asked for or clubbed with your father's income.
If you don't have the purchase document search and obtain a copy from registration office. See also records of land revenue authorities in whose name the land appear.

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