Purchase of property
This query is : Resolved
27 January 2011
Hello Sir,
My quiery is one of our client has purchased a property in the name of his son without having a knowledge of gift deed and that to in cash. now what can be Consequences of income tax?? and as per which sec??? does it attach a sec 281?
My quiery is one of our client has purchased a property in the name of his son without having a knowledge of gift deed and that to in cash. now what can be Consequences of income tax?? and as per which sec??? does it attach a sec 281?
27 January 2011
Purchasing of property in the name of relative is not under gift tax.
Message likes :
1 times
Guest
Guest
(Expert)
27 January 2011
It can be attached u/s 281 if it can be held to be a benami property.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Should I report my US salary for January, February, March in Schedule FA?
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
