LTG Tax Exemption on Clubbing of Income

Assume I am investing in my name and in my spouse name (House wife). In a financial year, both of us having long term capital gain of 1.25 Lacks, then can both of us can claim the LTG exemption of 1.25 Lacks, or only 1.25 Lacks, together.

Replies (5)
Quick Summary
This discussion clarifies the Long Term Capital Gains (LTG) tax exemption for couples. It confirms that each individual can claim the full exemption amount if investments are made directly in their own name and assets are held for over a year. The conversation also touches upon clubbing of income rules, noting that direct investment by a spouse prevents clubbing, unlike gifting funds for investment.

Both can claim if you sell it after one year.

Thanks a lot Sir. So it applicable even under clubbing of income also. Since my wife is not earning anything.

Clubbing would not apply when the investment made by your wife directly. Not if you invest and gift it to your wife.

Are you filing ITR for your wife ? regularly 

Yes Sir. I will file ITR for her eveyyaer. However, She is a Housewife.

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