How is capital gains distributed between joint owners?

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How is capital gains distributed between joint owners?

I had a property jointly owned by me and my wife. We made a short-term capital gain of Rs. 10 lakhs on the property. How can the capital gain be distributed between both of us?

Profile photo of Pankaj Pawar Asked By: Pankaj Pawar 1 replies 1 helpful answers Last Updated: 7 months, 3 weeks ago
  • Profile photo of Pankaj PawarPankaj Pawar
    Participant

    I had a property jointly owned by me and my wife. We made a short-term capital gain of Rs. 10 lakhs on the property. How can the capital gain be distributed between both of us?

  • Profile photo of Chetan ChandakChetan Chandak
    Moderator

    If both of you have contributed in the purchase of the jointly owned property then, you can divide the capital gain amongst both of you in the same ratio in which you contributed towards the purchase of the property.

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