Capital gain treatment..

This query is : Resolved

Vrinda (Querist)
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15 April 2020 There was a houseproperty the owned by husband & wife (as per ownership documents) purchased on 2006. Purchase price was paid by taking a loan and EMI s were paid by the husband from his bank account.
Today this property is being sold, sale proceeds are received in a joint bank account & TDS is deducted equally in the name of wife & husband.
Also the new house property that was purchased to claim exemption u/s 54 is also taken by making payments from joint bank account.
Now can we compute capital gains equally in the ITR of both husband & wife?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 April 2020 Since the original asset is co-owned, capital gains has to be computed by each co-owner. If the % of ownership is absent in the deed, can be presumed as equal ownership for the purpose of LTCG computation.