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Income Tax - Highlights / Catch Notes

Home Highlights September 2016 Year 2016 This

Status of AOP - property purchased by the husband and wife in ...


Joint Property Ownership: Spouses' Shares Determined by Contribution u/s 45, Transfer of Property Act.

September 20, 2016

Case Laws     Income Tax     AT

Status of AOP - property purchased by the husband and wife in the joint names - As per the provisions of Section 45 of the Transfer of Property Act in case of joint ownership of property the share of the co-owner shall be determined as per the ratio of their contribution in the purchase consideration. - AT

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