Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 December 2016
Can spouse be joint owner of a property without having her own source of income. If yes what will be the tax implication of selling the property in the hand of spouse.
Please suggest and thanks in advance.
Please suggest and thanks in advance.
CA Suresh Jain
(Expert)
07 December 2016
There is no restriction of spouse being a co-owner without having a source of Income but the spouse should have a source of money paid for acquisition of property. Assuming the source is gift from the spouse, if so, then the capital gain shall be clubbed in the income of the spouse gifting the amount
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