Posted on: 05th Aug, 2009 08:40 am
AS I told that my friend has baught land on my name because he was out of country . He has paid money for that and after 6 month i will transfer this land to his name.
But For tax calculation this, will come in my tax?
So for this deal i need to pay tax or my friend has need to pay tax?
how i can save this situation?
I am confuse , please me..........
But For tax calculation this, will come in my tax?
So for this deal i need to pay tax or my friend has need to pay tax?
how i can save this situation?
I am confuse , please me..........
amitforum
If you are referign to property tax, then who ever owns or have it in thier name need to pay taxes
My 2 cents
If you are referign to property tax, then who ever owns or have it in thier name need to pay taxes
My 2 cents
Hi amitforum,
The person who owns the property would be liable for the property taxes. Once you transfer the property to your friend, he would have to pay taxes for the land.
The person who owns the property would be liable for the property taxes. Once you transfer the property to your friend, he would have to pay taxes for the land.