Purchase of flat/land in mothers name

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

27 February 2014 Dear Sir,

my mother is a house wife. her income comprises of only interest from Fixed Deposit.

If i want to purchase a flat in which my mother will be second owner and will make about less than 50% of the payment through her account, will Income tax ask for details of source of income. The payment routed through my mother will be provided by my father and my father have paid full tax on the same amount. there is no black money involved.

my mohter holds a pancard but have not filed a single return till date.

what will be the scenario in this case and what are other things to be considered. please guide in this regard.

thanks

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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27 February 2014 Buy the ssdproperty in 3 names. Yourseld, Your father and your mother by showing equal share

Querist : Anonymous

Querist : Anonymous (Querist)

27 February 2014 thank you very much sir.

Also on the contrary if i want to purchase a land in my mothers name (single owner) amounting to approx 15 lacs.

what will be the scenario in that case. i dont want to add any joint holders in land.

thanks

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