Tax on LTCG on Property

I need clarification for this:

A property in the joint names of Wife and Husband, was sold and there is LTCG. 

1) Can Husband claim LTCG and pay the LTCG Tax

or

2) Both Wife and Husband have to claim LTCG and pay LTCG Tax

or

3) Only the Wife has to claim LTCG and pay LTCG Tax.

Replies (2)
Quick Summary
This discussion seeks clarification on how Long Term Capital Gains (LTCG) tax is applied when a jointly owned property is sold. The core question is how the tax liability is divided between a husband and wife. The consensus suggests that both individuals will be liable for LTCG tax based on their ownership ratio, or 50% each if no specific ratio is defined, with their share of the gain added to their taxable income.

Ideally second option is correct.

Husband and wife both will pay tax on LTCG as per ratio of thier ownership. In the absense of ration 50% LTCG will be add in their taxable income.

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