Question ID :
36963
Benami transaction
X an individual purchases a flat in the name of his married daughter, ie consideration is provided by X out of his known sources and flat is registered in the name of Married daughter, whether Benami Act will involved in this transaction.
Posted by
pradeep kumar agrawal
on
Feb 05, 2019
Filed Under
MISC.
No. If the consideration has been paid from known sources, the transaction is not classified as Benami Transaction.
Posted by
CA. chunauti dholakia on
Feb 06, 2019
Answer ID :
76260
Since the property is registered in name of married daughter benami property act will be applicable.
Posted by
Ketan Kumar G Samdani on
Feb 11, 2019
Answer ID :
76269
Yes it is a benami transaction as the property being acquired in the name of his married daughter even though the consideration is being paid from a known source.
Posted by
CA. JHA SHANKAR KUMAR on
Feb 13, 2019