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Adding New Co owner

Nishant (Assistant) (1092 Points)

09 September 2023

I have Residential house property. I'm sole owner of this property. Now I want to add my spouse name as 50% co owner in home Aggreement.

I want to know Capital Gain tax implications on my hand.

If applicable then what will be sale consideration and cost.

I'm aware that 56(2)(x) not apply in wife's hand as gift received from relative.

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5 Replies

RAJA P M ("Do the Right Thing...!!!") (127177 Points)
Replied 09 September 2023

Well, For Your aware of sec 56(2)(x)...
And also good about Your thought/action for adding...

But,

The question is not clear. Give some more clarity about the said query.
Also better to consider this with nearest professional...

( I want to know Capital Gain tax implications on my hand.

If applicable then what will be sale consideration and cost.)

sabyasachi mukherjee (26083 Points)
Replied 10 September 2023

You can easily add.

Nishant (Assistant) (1092 Points)
Replied 10 September 2023

Yes....My question is what is the implications of Capital Gain. Right now I'm 100% owner of house. If I add wife as co owner then I'll have 50% share.

Will it amount to transfer even though no consideration received?

RITESH KUMAR BHAGAT (Student) (110 Points)
Replied 14 September 2023

Make just Gift deed and register same and pay stamp duty and registration charges as co owner

Nishant (Assistant) (1092 Points)
Replied 14 September 2023

In case of Gift Deed recipient is not liable under IFOS but will it amount to transfer in My hands? as I'm transferring 50% share to spouse. won't it attract capital gain?