MY FRIEND IS IN U.S, HE IPURCHAGE A RESIDENCIAL HOUSE WORTH 52 LAKS, IN JAN.23 WITHOUT NRI ACCOUNT, HE IS HAVING- PAN, ADDHAR No. BUT NO TAXBELE INCOME , IN INDIA IS RETAL INCOME AND AGRICULTUE INCOME , ONLY, ANY NEED TOSHOW THIS TRANSACTION CAN SHOW IN I.T RETURE

Dear Sir Greetings!! I am an NRI. I have taken a housing loan from my NRE account. I have income from Indian sources for which I need to file my IT returns which I am doing every year. However during the previous year 2022-23 I purchased a property where my family is staying. I have taken housing loan for the said property through NRE account. Is it necessary to show the interest and principal paid in my tax return under Income from House Property? Your guidance will be highly helpful to file my return. Thanks in advance. A V Rajan

MY SON IS IN U.S, (N R I) HE IPURCHAGE A RESIDENCIAL HOUSE WORTH 55 LAKS, IN JAN.23, TOTAL AMOUNT TRANSFER FROM INDIAN SB A/C, HE IS HAVING- PAN, ADDHAR No. BUT NO TAXBELE INCOME, IN INDIA only RETAL INCOME AND AGRICULTUE INCOME, AT PRESENT HE IS NOT SUBMIT ANY IT RETURNS IN INDIA FROM 10 YEARS, THERE IS ANY NEED TO SHOW THIS TRANSACTION IN I.T RETURE FRESH COMPLEESORY.. PLEASE GIVE ME ADVISE

I have purchased a flat worth Rs 70 lacs and registered it in my son's name The full amount has been paid from my savings . My son was an NRI at the time of registration and doesn't have income source in India , except maybe Rs 2 lacs in his savings account. I recently came to know that we have to inform , if we purchase any property above Rs 30 Lacs . Will the above transaction cause any Income Tax issues for my son ? I don't not own any other property I have furnished the flat and stay in it whenever I come to Coimbatore I stay in a different apartment in Madurai I don't not plan to rent it out. My reason for buying a property in his name is I am 70 years old and I want to create an asset for him in the future. Is there any submission He or I have to make to I T Dept stating that I have gifted the amount. I am an assessee and file I T Return regularly. My son used to file when he was employed in India . Last 2 years , he is a NRi and doesn't file since he doesn't have any Income . Should I just prepare a Letter for records ,stating I have purchased a Flat in my son's name as A Gift and give details of amount paid by me from my Bank account to the Flat promoter.