Ltcg tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 April 2018
My wife was a joint holder in a flat that we sold recently but I received the full payment in my name. Now LTCG tax is due for payment in the first week of June. I want to know if the tax is to be paid jointly or is it only my liability. What formalities are to be followed in this case? I am 69 and my wife is 68. My income was from rent received from the same flat amounting to Rs.1.5 lacs for the year but my wife is still earning and pays income tax. I am also a cancer patient under regular check up and treatment.I have no taxable income from any source now.
Nikhil Kaushik
(Expert)
07 April 2018
how did you offer the rent received in earlier years to taxation? is the same was done only in your name, then the capital gains should also be taxed in your name only..
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