S A (55 Points)
17 January 2024My brother, an NRI, has a flat that he will be selling next month.
Is it ok to credit the token amount (1 lac) in a joint bank account in which his wife is the first holder and he is the second holder?
His NRO account will be functional when the actual sale takes place.
He plans to accept the sale amount in his own NRO account?
Is it ok if the token amount (1 lac) goes to one account and rest (50 lac ex of TDS) goes into another account?
Will there be any issue at the time of filing the ITR?
Sharath chandra
(Accountant)
(1227 Points)
Replied 17 January 2024
sabyasachi mukherjee
(27574 Points)
Replied 17 January 2024
S JEEVARETHINAM
(Sr Manager Finance and Taxation)
(137 Points)
Replied 31 January 2024
Both of Husband and Wife need to file Income Tax Returns separately based on the Capital
Gains Income and Tax Limit. Please arrange to compute Capital Gain Tax Workings with your Auditor.
They can receive the amount in two different account.
Sharath chandra
(Accountant)
(1227 Points)
Replied 31 January 2024
why both ?
| Originally posted by : S JEEVARETHINAM | ||
 |
Both of Husband and Wife need to file Income Tax Returns separately based on the Capital Gains Income and Tax Limit. Please arrange to compute Capital Gain Tax Workings with your Auditor. They can receive the amount in two different account. |
 |
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