Q.1191  NRI house purchase in India in the name of wife . . .

Question: My husband is nri from usa.. He want to purchase house in name of wife(me) being house wife wihtout job...he will transfer the money from his nri account to my sbi account and i will make payment...is it paossibe or who has to pay tax for it and how Answer:   Wife having job or not makes no difference when someone buys a house. Being employed is not a condition to own property in India. Anyone can buy a house as long as they have the money to purchase the property either through their own funds or loans etc. Your husband, as you suggest can transfer the money for the house purchase from his NRI bank account to your SBI bank account and you can make the payment. Your husband could also make the payment directly and purchase the house in your name. Tax is paid when the property is registered in the purchaser’s name. Property taxes are paid by the owner of the property. Here again your husband can make the payments on your behalf or give you the money and you can make the payments.
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Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
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Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
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Q.1191  NRI house purchase in

India in the name of wife . . .

Question: My husband is nri from usa.. He want to purchase house in name of wife(me) being house wife wihtout job...he will transfer the money from his nri account to my sbi account and i will make payment...is it paossibe or who has to pay tax for it and how Answer:   Wife having job or not makes no difference when someone buys a house. Being employed is not a condition to own property in India. Anyone can buy a house as long as they have the money to purchase the property either through their own funds or loans etc. Your husband, as you suggest can transfer the money for the house purchase from his NRI bank account to your SBI bank account and you can make the payment. Your husband could also make the payment directly and purchase the house in your name. Tax is paid when the property is registered in the purchaser’s name. Property taxes are paid by the owner of the property. Here again your husband can make the payments on your behalf or give you the money and you can make the payments.
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