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 WIFE HAS SOLD A FLAT GIFTED BY HER MOTHER FOR 50 LAKHS AND THE ENTIRE PROCEED HAS BEEN INVESTED IN 54EC BONDS, APART FROM THAT SHE HAS RECIEVED INTEREST FROM FD IN BANKS ,PLEASE LET ME KNOW WHICH ITR IS TO USED AND WHAT WOULD BE THE TAX LIABILITY

I purchased house in my mother's name for 33 lakhs from my business income and all paid in cash only as It is only Notary house (B-FORM) and no registration in that area. . Also opened bank account in mother's name, transferred funds from my account and created 525000 Senior Citizen Fixed deposit in her name for her future security. She don't have any income. I am business man and filing ITR's from last 12 years. What are the tax implications.

Hi, my name is Abbas Ahmad. I entered into sale agreement of my property inherited from my mother on 9.2.22 with a deadline for the buyers to get registered on their name as 9.9.2022. I received advance amount of 10 lacs and 22 lac 50 k in two time via RTGS. With that total 32 lac 50 k, I purchased 6 open plots in ventures( 3 on my wife’s name & 3 on my name) @280000/- each. The remaining part payment is yet to receive from them. Technically the said agreement has become null and void as per the conditions in the agreement since they failed to get registered within the deadline. My questions is that the plots which are on my wife’s name are considered for Long Term asset tax exemption. Please clarify.-Regards Awaiting for reply