[Cyborg]

Originally Posted by Bit

I'm curious if it's possible for the paying individual to be different than the registered car owner (within family)?

Whether the concern is justified or not is another question, but is it even possible or is it must that whoever signs the cheque, has to be the RC owner too?

Absolutely no problem, immediate family. Go right ahead. Just have your father write a simple letter where he states he is gifting a car to his son. This gift could be anything for that matter even cash to his son’s account. Ask your chartered accountant for the exact verbiage.

Cheers

[Turbanator]

Originally Posted by Bit

I'm curious if it's possible for the paying individual to be different than the registered car owner (within family)?

It should be absolutely ok for a father to get a car in his son's name. I don't see a problem except, as someone pointed out earlier, that the Car showroom may like to see the payment from your account. In this case, your father can first transfer your money, and then you can pay to the showroom. Either way, it's not a problem.

[Aroy]

Originally Posted by Bit

............................
My father wants to buy a car and will be making payment from his own bank account (no loan involved) however for privacy reasons, he asked if the registration can be done in my name.

He doesn't feel comfortable in getting his name and full address be available for information seekers who can pull it off from the number plate. Whether the concern is justified or not is another question, but is it even possible or is it must that whoever signs the cheque, has to be the RC owner too?

Any gift of money to son by father is exempt from tax. It would be prudent for your father to transfer the amount to you, and then you can pay for the car. That way he will not be involved in any transaction while buying the car.

[ggkg]

Hi sorry if this is repeated question, couldn't find exact fit

Car is in KA. I want to transfer this to son.

Went through details re vaahan portal it is useful. But it stops at "take print out and go to RTO". What happens there? Do we need both parties or just one? Anyone experienced this?

Is it simpler just to show as sale and get it over with? If there's additional paper work for gift. Not worried about tax impact as this is immediate relation.

[ajmat]

Originally Posted by ggkg

Hi sorry if this is repeated question, couldn't find exact fit


Is it simpler just to show as sale and get it over with? If there's additional paper work for gift. Not worried about tax impact as this is immediate relation.

Gift to a son is tax free

All is required is to go to RTO who will verify papers before accepting the same for processing.

[ggkg]

Originally Posted by ajmat

Gift to a son is tax free

All is required is to go to RTO who will verify papers before accepting the same for processing.

Thanks..yes not so much concerned about tax but on the procedure after we do the online stuff. Guess still a visit to RTO is needed. Thanks again