Monty (Owner) 03 September 2015

Payment of installments for flat purchase on wife behalf

Dear All Experts !

I booked a flat in my Wife name under 'Haryana Govt Affordable Housing Policy, 2013' and was successful candidate in Draw of Lots.

Basic sale price of Flat is Rs 20 Lac and Will Cost Rs 24-25 Lac after taxes & Other Statutory charges.

She was working 8-9 years back in pvt company and have Rs 3-4 lakh FD in her name.

She is not working now, also not filing income tax since left job. But have PAN Card.

Now She has to deposit Premiums/installments for the Apartment for 4 years (after every 6 months)

I have below queries, Please guide which will be legal & most beneficial way:

a) Should I deposit the cheques for installment from my Saving Bank Account.[ I have paid all taxes every year on my income from FD's and other earnings ]

b) Should I first transfer money into my wife's account and she deposit the cheques for installment from her Saving Bank Account.

Thanks

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1 Replies

advocatepassy@gmail.com 971794 (Advocate) 03 September 2015

Yes, you can pay on her behalf in both ways but it would be better if you and your wife have an agreement in which Beth's share in the property is divided say 60:40 or 50:50.