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can i pay for the property which is to be named after my friend?


23-Sep-2023 (In Documentation Law)
i m living in bangalore and have sold my house due to old age. want to buy a new house for a relative from that money in Chennai. Is there any complecations?
Answers (1)

Answer #1
911 votes
Absolutely there is no complications but if you obtained an amount exceeding 50 lakhs out of the sale proceeds in your name then you have certainly paid up the tax so better to avoid sale profit tax you need to invest the same in your name. This is only with respect to tax issue. Otherwise it is fine if you lend your money to your relative.
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