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 received money from my PF Account after retirement and paid money for purchase of a flat in my son’s name. Later on the flat sold after 3 years with a profit of Rs 5,000 but commission paid to dealer was Rs 20,000. The earlier amount paid for purchase by me to seller was online from my bank account but in latter case, the amount was transferred to my son’s account who then paid the purchaser (in 2nd case of sale of house). Later on, after sale of flat, this sale amount was transferred by my son to my account. Should I show the profit of Rs 5,000 in my income tax return? Further, it is also informed that this house was purchased and later sold on Power of Attorney as registry for this property/colony is not open by the govt. Please guide me in the matter whether my son should show this transaction in his return or I should do it as money was initially paid by me and later on taken back by me only? Please help in the matter and oblige.

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

My daughter is staying abroad and housewife. She sold her plot for 14 lacs for her son's education. This amount was sent to her husband a/c abroad from her brother's local indian a/c. Should she submit IT? Plz clarify.

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.