banner_ad

Tax treatment for property sale

Tax queries 234 views 4 replies

Hi...

I have sold a residential property which was in joint name of my self and my wife. Entire payment towards the purchase of property was paid by me as my wife is a house wife and does not have any income.

In above case there is short term capital gains of 50 lacs.

Query is - Can I show entire short term capital gains of 50 lacs in my ITR and pay applicable tax on 50 lacs income ( as my wife did not pay any amount towards purchase of this property ) - pls advise ?

Replies (4)

Yes

You can consider STCG in your ITR and pay tax on Capital Gain as applicable. 

it has to be shown in your ITR only
Hi Tarun....can buyer deposit full TDS under my name or it will be distributed equally between me and my wife.
yes.it can be shown in your return because in the income tax return, we dont give any proof of ownership of property to the Department.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details