Apportion of st capital gains in joint names
This query is : Resolved
06 July 2015
how the short term capital gains will be apportioned between two holders where my wife is the first holder and myself as second holder. My wife has no income hence not filling ITR whereas I am filling. please suggest solution.
07 July 2015
If the asset was paid for by both of you and your shares are ascertainable then the gain will be divided in that ratio. If the asset was paid for by only one person then the gain will be taxable in the hands of that person alone even if it is in joint names.
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07 July 2015
thanks for the straight answer.
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