Husband & wife are co - owners of a property and cost of acquisition borne by husband. They have not prepared Balance Sheet & not maintained books of Accounts.Now for Short term Capital Gain can we avail basic exemption for both husband & wife separately?
| Originally posted by : Sarika Deshpande | ||
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i think it will be charged to tax in the hand of husbund, see clubing of income. any property transfered by assesse to spouse shall be chargeable in the hand of assessee who transfered it. her hasbund has purchased property jointly in the name of husbund & wife, hance it is to be charged in the hand of husbund only. |
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