Investment held jointly in demat account

Investment is held jointly in demat account. Can the joint owners offer short term capital gains proportionately in their tax returns? I have one demat account in which my wife is a joint holder. one investment made has been redeemed in August 25. I would like to know if the short term capital gains can be offered proportionately in our tax returns. Both of us are assessees since 2001.

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Quick Summary
This discussion clarifies whether short-term capital gains from a jointly held demat account can be declared proportionately by each owner on their tax returns. The consensus is yes, provided the contribution to the investment is also proportionate. It's advised to reflect this split accurately in your AIS report to avoid queries from the Income Tax Department. Opening a separate demat account with the other spouse as the primary holder might simplify future dealings.

Who invested in the purchase of the demate holding?

From joint account. 55% by me and 45% from my wife.

Yes, you can declare the gain proportionately. At the same time you will have to give 'feedback' in AIS report accordingly.

It is advisable to open another Demat account. primary holder being your wife, for ease of working and releive yourself from any query from ITD.

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