85+ Lawyers are online 
Taking loan from father for property
02-Nov-2024 (In Property Law)
Hello,
I am planning to buy a property in the name of myself and my spouse. Around half the total amount which is close to 30 lakhs is being sponsered by my father and he will be transferring the amount in my account. I want to understand the tax implications if he transfers this to my account. Do I have to pay any tax on the amount that will be transferred? Do I need to have a gift deed? Will there be any other tax?
dear client as per your query since the amount will be transferred then you need to pay some calculated amount of GST to bank as it will deduct itself at the time of transaction of the amount as per RBI rule..
Helpful?
Adv. Priyanka Singh
Kolkata | 1000+ Answers
CONTACT NOW
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Property lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
