I have purchased a flat for ₹12 lakh in Belgaum, in my son’s name. He has not started earning, as yet. I paid for it from my retirement funds received in August 2017. Please let me know whether my son has any tax liability. Can I show this as gift to my son? If yes, what is the procedure?K P Ramakrishna I understand that you have purchased the flat in your son’s name during FY 2017-18. As per pro...
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