- If the respective shares of the co-owners are definite and ascertainable then share of each co-owner in the property shall be included in the total income. If both the properties are funded independently by husband and wife using own sources of funds then both will be treated as owner basis on the percentage of investment in the property. If the property is funded by either of the spouse and the name of other spouse is added for any reason then the spouse who has funded the property is treated as owner of the property and capital gain will be calculated in the hands of that spouse only irrespective property is purchased from joint accounts.
- Exemption of capital gain is available u/s 54
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