I purchased residential plot jointly with my female friend/relative. The total cost of purchase was met by me. Now in calculating capital gain, can I claim the whole amount of purchase cost or only 50%.
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Quick Summary
This discussion addresses a common query regarding capital gains tax on a jointly purchased residential plot. The original poster funded the entire purchase cost but wants to know if they can claim the full amount or only 50% when calculating capital gains. The consensus suggests that only 50% of the purchase cost can be claimed, implying shared ownership for tax purposes.