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Q. Registration of immovable property

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Anonymous

posted 8 months ago

Q.Registration of immovable property
There is one agreement to sell in the name of my mother for one of the property. The EMI is currently being paid by her son in law father. So, it's more like a gift. My question is
1) can my mother get the registry done directly in her name and how she will show in her balance sheet. In the future, when the flat is sold I hope that she will have to bear the capital gain
2) due to this registry, I hope that there will not be any income tax liability on my mother as it is being gifted by the relative
Thanks for the help

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Ambrose Leo

Experience: 9 Year(s)

Responded 8 months ago

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A. ) You have to takeup the issue with CA/CS and Capital Valuer for all aspects of the issue quickly.

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Kishan Dutt Kalaskar Retired Judge

Experience: 33 Year(s)

Responded 8 months ago

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A. ) Please consult chartered accountant

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Shanti Ranjan Behera

Experience: 22 Year(s)

Responded 8 months ago

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A. ) Dear Sir,
Probably you need the help of a Chartered Accountant more than a Lawyer.
Under the circumstances get in touch with the Chartered Accountant personally
and sort out your matter for now and for future as well.
Shanti Ranjan Behera
Advocate

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