Anil Rego |340 Answers |Ask -Follow
Financial Planner - Answered on Nov 27, 2020
It may be noted that if the co-owner has not contributed anything for purchase of property, then he / she will not be treated as co-owner.
After determining the Full value of consideration, the cost of acquisition for each co-owner shall be reduced to compute the capital gains for each co-owner separately. For a long term asset, the benefit of indexation is available.
Eligible deductions can be availed by both co-owners individually and the Long Term Capital Gains can also be reinvested for tax savings individually.
You may like to see similar questions and answers below
Mihir Tanna |819 Answers |Ask -Follow
Tax Expert - Answered on Nov 17, 2022
Tejas Chokshi |126 Answers |Ask -Follow
Tax Expert - Answered on Jul 05, 2023
Mihir Tanna |819 Answers |Ask -Follow
Tax Expert - Answered on Nov 21, 2023
Hardik Parikh |106 Answers |Ask -Follow
Tax, Mutual Fund Expert - Answered on Jul 18, 2023
Mihir Tanna |819 Answers |Ask -Follow
Tax Expert - Answered on Jul 23, 2023
Ramalingam Kalirajan |1323 Answers |Ask -Follow
Mutual Funds, Financial Planning Expert - Answered on May 03, 2024
Ramalingam Kalirajan |1323 Answers |Ask -Follow
Mutual Funds, Financial Planning Expert - Answered on May 03, 2024
Ramalingam Kalirajan |1323 Answers |Ask -Follow
Mutual Funds, Financial Planning Expert - Answered on May 03, 2024
Sushil Sukhwani |331 Answers |Ask -Follow
Study Abroad Expert - Answered on May 03, 2024
Anu Krishna |839 Answers |Ask -Follow
Relationships Expert, Mind Coach - Answered on May 03, 2024
Anu Krishna |839 Answers |Ask -Follow
Relationships Expert, Mind Coach - Answered on May 03, 2024
Anu Krishna |839 Answers |Ask -Follow
Relationships Expert, Mind Coach - Answered on May 03, 2024
Samraat Jadhav |1711 Answers |Ask -Follow
Stock Market Expert - Answered on May 03, 2024
Samraat Jadhav |1711 Answers |Ask -Follow
Stock Market Expert - Answered on May 03, 2024
Samraat Jadhav |1711 Answers |Ask -Follow
Stock Market Expert - Answered on May 03, 2024
Close