One flat is purchased by two own brothers by making payment from both of their bank account..However the Property is registed in ONLY ONE of the brothers name..
Assume payment made rs 5 lac by each of the brothers
So how to deal with the situation ?
So at what value the person on whose name the registry has been done should show the value of flat and the treatment of the payment of the fund which has been made by other brother but not registered in his name?
Also how will the other brother on whose name registry hasn't been done will show his payment in flat?
would it be treated as gift paid by one brother to another brother for the value which has been made by him but not registerd in his name??
kindly elloborate
CAclubindia
