Tax situation in purchase of a house from tax deduted salary from abroad.
Pramod Kumar
(Querist) 18 September 2012
This query is : Resolved
Dear Sir/Ma'am
I want to ask a question about Taxation that if a person is working abroad. He gets tax paid salary there.
After all he sends his savings to India in his own Saving account in India.
He then give this amount to his mother for purchase of house in her name.
Please tell me what will be the position of Taxation in this regard?
What situation is beneficial according to Income tax laws. whether it is suggestible to purchase in his own name or in his mother's name?
Pramod Kumar
(Querist) 30 September 2012
Respectable Sadashiv Rupchand Gaikwad ji namaskar
I have never asked about interest exemption on housing loan.
I have only asked that a person is working abroad. He gets tax paid salary there.
After all of his expenditures he sends amount saved to India for purchase of a house on 100% Cash in the name of his mother.
The amount sent is Tax paid.
Now on purchase of house in the name of his mother by this money, what will be the situation of tax laws for his mother?
This was the question.
