Lokesh (Student) (48 Points)
31 October 2023Hi Experts, If wife buys a plot on her own name but the cheque payment to builder was was paid by husband. Then will wife file the 26QB (1% TDS) or will Husabnd has to file the same?
NARENDRA
(ACCOUNTS MANAGER)
(1994 Points)
Replied 31 October 2023
Wife............. ............. of course................ .......
Lokesh
(Student)
(48 Points)
Replied 31 October 2023
Thank you Mr. Narendra for answering the question. I have a follow up question, because wife is non earning so if she files the form 26QB then IT dept can ask that since there is no income for wife how she is paying large amount for purchase?
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 31 October 2023
Lokesh
(Student)
(48 Points)
Replied 31 October 2023
Thank you Mr Eswar. I have asked the question from post purchase perspective. I would appreciate your insights on what IT rules say in such cases
NARENDRA
(ACCOUNTS MANAGER)
(1994 Points)
Replied 01 November 2023
| Originally posted by : Lokesh | ||
 |
Thank you Mr. Narendra for answering the question. I have a follow up question, because wife is non earning so if she files the form 26QB then IT dept can ask that since there is no income for wife how she is paying large amount for purchase? |  |
Most Welcome Dear Lokesh,
There are two options , either husband should register such property on his name or even ,wife can also show gifts taken from husband & registered property under her name.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 02 November 2023
Lokesh
(Student)
(48 Points)
Replied 02 November 2023
| Originally posted by : Eswar Reddy S | ||
|
Husband income and property buying in wife's name comes under tax avoidance . It may caught by risk management scrutiny on sale of the property in future | |
oh. I thought this is common in our country. During sale what are the things to follow to ensure there is no issue?
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 02 November 2023
Lokesh
(Student)
(48 Points)
Replied 02 November 2023
got it. Basically the seller should be able to establish the chain of money flow. Thank you!
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