I’m a NRI buying a property worth 69 lakhs from my grand mother which she bought in 1986 . The registration will be done on the min guideline value at 24 lakhs.
In order to pay to the seller (grandma) I’m taking a mortgage loan of 45 lakhs and intend to pay remaining by cash transfer from my overseas account.
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Do I have to worry about tax implication on the purchase of the property from my grand mom? If yes, what is it ?
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Is there any tax I can save by registering the land as a gift deed ? (Please note it’s not a gift I’m buying it at market rate)
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my grandmom intends to distribute the money to 3 of her children, do I save anything by sending the money directly to her kids (one of her kid includes my mom in this case)