one house purchase by husband and wife and same was sold by both in the years 2022, purchase deed as well as sale deed of the above said house was executed in the name of both husband and wife. but total sale consideration only show in husband 26As and AIS. my query is all sale consideration is taxable in hands of husband or both.if both taxable as per half share then pls guid me.
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Quick Summary
This discussion addresses the tax treatment of a jointly owned house sold by a husband and wife. Although the sale consideration was only reported under the husband's PAN in the 26AS and AIS statements, the query is whether the entire amount is taxable for him or if it should be split between both spouses. Guidance is sought on how to declare this if it's taxable as a half share for each, considering Section 64 of the Income Tax Act.