20 March 2010
If there are number of payees,each of them having definite and ascertainable share in the property, the limit of 1.20 lakhs will apply to each of the payee/co-owner separately. Reference:- CBDT Circular 715 dated 08/08/1995.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
20 March 2010
Please tell in the provision applicable in 2008-09 and with reference to co-owner.