CA.Kanhaiyalal Gupta (Taxation Incharge) (290 Points)
26 July 2012|
Dear All, My question is :- A- BROTHER AGE 28 IN MUMBAI |
| B- BROTHER AGE 42 IN UTTAR PRADESH |
| C-MOTHER AGE 69 IN UTTAR PRADESH |
| "A" TRANSFER RS. 600000 TO "B" ACCOUNT FOR THE PURPOSE OF PURCHSES A PROPERTY IN UTTAR PRADESH |
| BUT PROPERTY PURCHASED ON THE NAME OF MOTHER |
| HOW WE CAN SHOW ALL THE ENTRY IN BALANCE OF MR. "A" & MR. "B" |
| "A" & "B" IS THE INCOME TAX ASSESSEE BUT MOTHER IS NOT A INCOME TAX ASSESSEE |
S Sivasalapathy
(Job)
(262 Points)
Replied 31 July 2012
CA Gaurav Choradia
(Relationship Manager )
(418 Points)
Replied 01 August 2012
Case I
Mr A can Gift the whole amount to Mr. B, and Mr B can also show Purchased Propeprty as Gift to mother.
There will not be any Tax Liabilties in any case neither in the hand of Mr. B nor Mother.
There is no need of PAN to your mother for receiving gift.
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