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Sir, i want to know can son construct building in father's land (i.e land in name of father)with son's own capital.?

Ashim kr Ray (social service) (1695 Points)

21 December 2016

Sir, A building has been constructed by son,on land and this land is in the name of father,as the land is in the name of father construction of building shown in father IT file.Now in the IT file of father capital is less can loan from son be shown in the father IT file.

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6 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177852 Points)
Replied 21 December 2016

What was agreement/understanding between father and son before initiating construction of building?

Depends upon the agreed terms, even son can hold the property in his file.

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Ashim kr Ray (social service) (1695 Points)
Replied 21 December 2016

Nothing such agreement has been made,the building has been in under construction which expenses is bear by the son.Building has been shown in father's IT return.Now less capital in father File,what are the options availiable here to increase the capital in father file.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177852 Points)
Replied 21 December 2016

Well, if you wish the capital from son can be shown as loan or gift in father's file; but plan and act according to the future course of action.

Does the father wish to keep the building in his name? or wish to sell? etc.

Ashim kr Ray (social service) (1695 Points)
Replied 21 December 2016

NO father wish to keep in his name building.

Ashim kr Ray (social service) (1695 Points)
Replied 21 December 2016

Sir,

Can son shows the expenses incurred in construction of building in his IT file .Though its in the land name of father.

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177852 Points)
Replied 21 December 2016

If father wishes it to keep in his name, son has to show it as loan/gift to father. Or father and son should jointly show ownership of the building with a mutual agreement of understanding.

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