capital gains & clubbing
This query is : Resolved
24 December 2017
Mr A purchased plot in name of spouse and sale of such property resulting in Long term capital gains. Whether such income would be taxed under spouse or it should be clubbed to Mr A?
26 December 2017
The true owner of the property is the one who made the payment for acquiring the property.
It is necessary that you are in position to prove the true ownership like via cheque payment/ bank account details.
If any notice is received from the department wherein she is treated as the owner, then respon appropriately by clarifying that the true owner of the property is the husband.
[Specifically mentioned because nowdays most of the processing is automated, the system will not know about it.]
It is necessary that you are in position to prove the true ownership like via cheque payment/ bank account details.
If any notice is received from the department wherein she is treated as the owner, then respon appropriately by clarifying that the true owner of the property is the husband.
[Specifically mentioned because nowdays most of the processing is automated, the system will not know about it.]
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