Investing my share of proceeds of sale of family property in a flat for long term capital gains purpose.Can i include my wife name as joint owner.She has not invested any amount.will I incur any tax payment?
Hi,
You can put your wife's name as a joint owner but for the purpose of taxation, you will be considered as a sole owner.
We recommend avoid putting her name if there is no genuine benefit.
Please feel free to call/ revert in case you need further clarification.
Thanks and regards
Abhishek Dugar
CA CA B.com
Hi,
Yes, you may include your wife's name as a joint owner in the new property. So long as you are complying with the conditions for claiming capital gain deduction, you need not worry about including her name.
Regards,
Keerthiga Padmanabhan
M.Com., CA, LLB
Yes you can include your wife name along with yours. You will not incur any tax Payment.
The rental if any from the property in future will be taxed in your hands only and not her.
Hello Sir,
Are you planning to buy a new property in which you want you put your wife's name as Joint Owner ?
Yes, you can do that but only make sure that your capital gains are to be invested in full in your new property.
Trust this clarifies your query.
Feel free to call / get back in case of further clarifications.
Thanking You.
Regards,
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP
Hi,
Section 54 / 54F Exemption only says that the Assessee has to invest the amount from sale proceeds of sold property in a new house. There is no bar on adding your wife as a joint owner.
