Capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 March 2017 My Query is in relation sale of commercial house property by 2 co-owners. At the time of purchase of the said property, the ratio of share is silent. so the contribution is 98 : 2. Now, the sales value is contributed equally 50:50 and TDS on Purchase of property is also booked by the purchaser 50:50. Other details:
Sales consideration is 1.35 cr FY 2016-17 indexation is 1125
Transfer expenses: 7 lakhs
Purchase value : 61 lacs in the year 2007-08 indexation is 551 ( Contribution at the time of purchase by 1st Owner is 60 lacs and 2nd owner is 1 lacs
if i calculation overall, there is loss, but if i calculation as per ratio of purchase i.e. 98:2, the 2nd owner has long term capital gain and 1st co-owner has long term capital loss.
please help and guide.
Thanks in advance :)

Querist : Anonymous

Querist : Anonymous (Querist)

31 March 2017 My Query is in relation sale of commercial house property by 2 co-owners. At the time of purchase of the said property, the ratio of share is silent. so the contribution is 98 : 2. Now, the sales value is contributed equally 50:50 and TDS on Purchase of property is also booked by the purchaser 50:50. Other details: Sales consideration is 1.35 cr FY 2016-17 indexation is 1125 Transfer expenses: 7 lakhs Purchase value : 61 lacs in the year 2007-08 indexation is 551 ( Contribution at the time of purchase by 1st Owner is 60 lacs and 2nd owner is 1 lacs if i calculation overall, there is loss, but if i calculation as per ratio of purchase i.e. 98:2, the 2nd owner has long term capital gain and 1st co-owner has long term capital loss. please help and guide. Thanks in advance :)

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