Hi there
My brother’s wife ( my bhabhi) father is NRI and they are well settled abroad
they want to gift some money to their daughter so that she can buy flat
1. what are they taxing laws if father ( NRI) is gifting money to her daughter and what precautions needs to be take so that tax can be avoided
2. my brother applied in 1 of scheme of govt in which he got a flat, cost of flat is 30 lakhs and it will be built within 19 months as per govt brochure ( some time they delays upto 3 years or in some cases 4 years). if his wife starting disburse loan to him and if in worse case he gets possession after 3 years then will he be able to claim interst he paid in his incometax return, bcoz i have read some where that after 3 years if you havenot got possession you cant claim it in incometax return
3. is it a good option if my brother takes rs 15 lakhs loan from her wife and gives her interest only so that he can save rs 1.5lakhs life time
4. is it possible that he transfer 50% flat ownership in her wife name so that he has to pay only rs 15 lkahs interest and not rs 30 lakhs interest bcoz he can only saves upto rs 1.5 lkahs interest
5. or any other suggestions if you guys have please let me know
6.