Is there any tax advantages in case of holding property in joint name ?
Let say X is employed and Y (X wife) is non-working lady. X wants to take a land in the joint name of X and Y but the loan installments etc will be paid by X solely. In case both X and Y want to sale the land after 5 yrs, how the Capital gain tax will be calculated. Will it be shared betwen X and Y and Y can take advantage of the Minimum threshold limit of Income Tax exemption. I dont think so.
Is there any other option legally X can do to minimise the tax
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