A joint ownership (50:50) property was sold. There are some capital gains & it falls under Long Term Capital Gains. In ITR2 how it should be recorded? Both the parties will show 50% of gains each in gains & registration amount section? Please clarify

I am a senior citizen retired pensioner. I had intention to sell my both properties located in one town and to invest in one property in another town where I wanted to settle in my retired life. I wanted that the sale proceeds of my two properties should be almost same as the purchase value of a single property in another town to settle there. I had bought a property in 2015 at Rs 40 lakh in my single name and sold in Feb 2022 at Rs 52 lakh. The buyer deducted 1% TDS and filled in form 26QB and I got form 16(B) from buyer and details of TDS are seen reflected in my Form-26AS. Thereafter, my 2nd property that I had bought @Rs 7.3 lakh 20 years back, was attempted to dispose, but did not materialise till now.  Anyway, I bought a 5-yr-old jointly owned property from a couple at Rs 80 lakh in June 2022 and deducted 1% TDS (@0.5% from each owner), filled in Form 26QB and provided form 16(B) to the sellers.  So, I invested the sale proceeds of my 1st house 'within a year' of its disposal, in buying a house from Long Term Capital Gain point of view. My IT Return for AY 2022-23 was filed in July 2022 and it got approved. The 1% TDS deducted by buyer on my 1st property sale got refunded/ adjusted.  I am still trying to sell my 2nd property 'within one year' of buying the June, 2022 property. I want to do this to take benefit of Long Term Capital Gain Tax. I want to know whether I am going to get the IT benefit by selling my 2nd property 'within one year' of purchase of my June 2022 property ? I am more eager to know how sale of 1st property in financial year 2021-22 (Feb.'22), purchase of a property in FY 2022-23 (June'22) and again sale (proposed) of 2nd property, (all within 2 years from LTCG point of view) are shown in my next IT Return (AY2023-24).  I am eager to hear from you, Sir!

Sir, This is about my share of money I have received after selling immovable property (house along with land) after my mothers death in 2022 along with brothers and sisters. The property history is of my late grand mother received this property from her mother and after my grand mothers death it had come to my mothers name. After my mothers death we her sons and daughters registered our name in property in 2023.We sold this property immediately and shared the amount within bros & sisters. Now, please tell me whether this share amount is considered as long term capital gain or short term capital gain.

Dear Mr.Anil, My mother sold her old house and against it purchased two plots wherein she added me as joint owner (all transactions are from her saving account). Now i have following two questions: 1. Under which ITR form and which head in ITR she has to declare /report following 4 things: sales proceeds, long term capital gain, capital gain tax paid and declare purchase value of plots.( So far, I file her ITR on her behalf every year under Form1 -Sahaj). 2. Do i need to also declare /report purchase of plots while filing ITR ,since she made me co-owner and under what head (I file under form2 as have share investements). Kindly guide ?

Dear Hardik ji, My mother sold her old house and against it purchased two plots wherein she added me as joint owner (all transactions are from her saving account). Now i have following two questions: 1. Under which ITR form and which head in ITR she has to declare /report following 4 things: sales proceeds, long term capital gain, capital gain tax paid and declare purchase value of plots.( So far, I file her ITR on her behalf every year under Form1 -Sahaj). 2. Do i need to also declare /report purchase of plots while filing my ITR ,since she made me co-owner and under what head (So far I file under form2 as have share investements). Kindly guide ?

My mother sold her old house and against it purchased two plots wherein she added me as joint owner (all transactions are from her saving account). Now i have following two questions: 1. Under which ITR form and which head in ITR she has to declare /report following 4 things: sales proceeds, long term capital gain, capital gain tax paid and declare purchase value of plots.( So far, I file her ITR on her behalf every year under Form1 -Sahaj). 2. Do i need to also declare /report purchase of plots while filing my ITR ,since she made me co-owner and under what head (So far I file under form2 as have share investements). Kindly guide ?