Assume I am investing in my name and in my spouse name (House wife). In a financial year, both of us having long term capital gain of 1.25 Lacks, then can both of us can claim the LTG exemption of 1.25 Lacks, or only 1.25 Lacks, together.
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LTG Tax Exemption on Clubbing of Income
Replies (5)
Both can claim if you sell it after one year.
Thanks a lot Sir. So it applicable even under clubbing of income also. Since my wife is not earning anything.
Clubbing would not apply when the investment made by your wife directly. Not if you invest and gift it to your wife.
Are you filing ITR for your wife ? regularly
Yes Sir. I will file ITR for her eveyyaer. However, She is a Housewife.
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