Long term capital gains shown in schedule in co-ownership residential house

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ANIL KUMAR KHETAN

PROPRIETOR

549 Points Joined February 2014

A co-owner house sale after three years possession. 50% share each co-owner. Sale by one deed both Co-owner. TDS for 50% each Co-owner account. Please advise me to calculate long term capital gains and shown in proper way to schedule procedure. Please reply immediately.Thanks in advance.

Replies (1)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

208824 Points Joined July 2016

Declare 50% of LTCG after deducting indexed cost of investment and improvement, if any from the sale proceeds in both co-owner's ITR2/3, as applicable.