Dear Expert
Please help me in this...!
Mr. A(1st name ) & B (2nd Name) [ joint owner of property- % of ownership nt mentioned anywhere]
Sold Property with in 2 years ( i.e. Short Term)
Can i Split capital gain in equal percentage ??
or as Mr.A as first owner... liable to all capital gain tax??
If property is purchased in joint name then capital gains will be taxable 50% each in both hands (in the absence of specific mention of ownership ratio). But it will also depend upon who is shown as seller in the sale deed.
CAclubindia
