property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 July 2011 wife has a property and she is legal owner and both wife and spouse took loan on it.....they want to sell that property so who shall pay the capital gain?husband or wife?

Nitin Lakhmani

Nitin Lakhmani (Expert)
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20 July 2011 In youe case wife is legal owner of property.
merely loan taken by wife & her spouce will not make difference.

They will get deduction of same interest if they are joint owner of this property.

so wife, who owner of this property have to pay Capital Gain on Transfer of this property.

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