Mihir Tanna |1054 Answers |Ask -Follow
Tax Expert - Answered on Nov 02, 2022
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.
The money received on transfer of flat and sent to you is gift received from son and gift received from relatives is not an income.
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