Capital gains on joint property

please visit :- https://taxes.about.com/od/taxplanning/qt/home_sale_tax.htm

I think u will get ur answer.

I think u can't split gain in your name & your wife name.

Dear Anis,

You are not the owner/transferor for your spouse's share in property. Therefore Gain from your wife's share of property shall be assessable only in your Wife's Hands. However, while purchasing the proeprty, the source must not passed from you. Otherwise, Clubbing provisions will be attracted and consequently entire gains will be assessable in your hands.

It is better to split and assess the gains individually in your and wife's hands and purchase the property both in your name and wife's name for a problem less assessment.