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

Gift transfer to in law: ensure foreign exchange compliance and documentation before purchasing property in their name. Whether a nonresident may purchase property in a father in law's name raises two compliance considerations: tax attribution versus documented gift treatment, and adherence to foreign exchange and remittance procedures. Documentary evidence of the transfer's nature and use is decisive for tax treatment, and funds remitted from abroad should be routed through compliant banking channels before acquisition or registration to align tax and exchange compliance.