Did transaction on my mother-in laws behalf from my account
27-Oct-2023 (In Property Law)
My mother in-law bought a property in bangalore but some payments to the builder was done from my account. Will that be an issue anytime? As per my advocate we can do property registration with those txn details but later if some audit happens it will be an issue.
As far as the claiming of payment of tax is concerned you may face some issues since you had made payments for which you had not purchased therefore you may not be able to claim exemption under the income tax but as far the title of the property is concerned absolutely no problem since you belong to the same family and what matters is whether the vendor has received the sale consideration mentioned in the sale deed or not. It doesn't from whom he has received. The sale Deed is absolutely valid.
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