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amitforum · Joined: 23 Jul 2009 Posts: 30 4.71 Dollars($)

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..........

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

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

adonis · Posted: Wed Aug 05, 2009 10:58 pm Post subject:

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.

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