Mumbai I-T Appellate Tribunal ruled that property co-ownership is not liable to joint taxes

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By Accommodation Times News Service

The ITAT order will help many taxpayers as married couples are increasingly opting for property registration in joint names, even if only one of them is the investor

If the spouse has not invested in a property and is merely a co-holder, then on sale of such property, she cannot be liable for tax on capital gains, the Mumbai Income-Tax Appellate Tribunal (ITAT) has recently ruled.

The ITAT order will help many taxpayers as married couples are increasingly opting for property registration in joint names, even if only one of them is the investor.





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