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Property co-ownership doesn’t mean joint I-T liability

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.

Article referred: http://timesofindia.indiatimes.com/city/mumbai/Property-co-ownership-doesnt-mean-joint-I-T-liability-rules-Mumbai-Income-Tax-Appellate-Tribunal/articleshow/53659866.cms

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