Buying property in in-law's name

[Guest]

I live in USA. I want to know if i can buy and register a property in my father-in-law's name.

What are the tax implications?

[Ravi Kumar]

all your assets in the name of your in -Law will be treated as income of him.. you may transfer the some via rtgs after settelment of foreign excahnges then buy prop in india...

 

[DR.MARIAPPAN GOVINDARAJAN]

You may transfer the amount to your father in law as gift.

AI Summary

Exploring Tax Implications for US Residents Buying Property in India Under Father-in-Law's Name: RTGS vs. Gift Transfer A user living in the USA inquired about the possibility and tax implications of purchasing and registering property in India under their father-in-law's name. One response indicated that assets registered in the father-in-law's name would be considered his income, suggesting a transfer via RTGS after settling foreign exchanges. Another response advised transferring the amount as a gift to the father-in-law.