Tax on LTCG on Property

Ravindranath A (SWO) (29 Points)

25 September 2024  

I need clarification for this:

A property in the joint names of Wife and Husband, was sold and there is LTCG. 

1) Can Husband claim LTCG and pay the LTCG Tax

or

2) Both Wife and Husband have to claim LTCG and pay LTCG Tax

or

3) Only the Wife has to claim LTCG and pay LTCG Tax.