Long term capital gain on joint property

Tax queries 876 views 3 replies
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Properitor
29 Points Joined May 2012

Does the liability of long term capital gains split in case of the property is in name of 2 brothers / jointly held by 2 brothers?

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On 19 May 2012 at 14:24 Report
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B.com CA
276 Points Joined February 2011

yes it will be bifurcated

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On 19 May 2012 at 14:45
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and what if reistered in the name of elder brother but belogs to both the two brothers , and there is no prove for ownership of the other brother (whom the property is not registered) as the property is held as a investment and  not for residence 

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On 19 May 2012 at 14:51
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B.com CA
276 Points Joined February 2011

cap.gains tax liability  will be upon elder brother

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On 19 May 2012 at 14:54

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