Since you both are the sole owners Then you can claim equal amount  of capital gain and deposit in both the names.

Yes Capital Gain will be calculated in your wife's name also 

(Capital Gain is something which you are gain either in cash or in Discount profit ) Section 50C of Income Tax Act

It doesn't effect from where the insrallmeins we're paid it depends on how much you gain by selling it above Government prescribed Circle Rate. 

In the case of long-term capital gains on sale of the jointly owned property, whether commercial or residential, each one of the co-owner shall be entitled to claim exemption under Section 54EC, by investing the indexed capital gains up to Rs 50 lakhs.

1.  Yes you and your wife both can claim capital gain and deposit agaisnt the bonds.

02. Since your wife was joined as owner in 2009 it shall be calcualted from 2009.

3. Since you both have equal share but the indexation shall be different as for year it would be from 2009 engage a CA for calcuation of same and you can invest the amount in new house property to save the capitalgain tax.

Both of you claim equal amount of capital gain, capital gain is calculated by applying cost Inflation index

in case of the jointly held real estate, each owner has a separate limit of up to Rs 50 lakh for investing in these bonds Exemption is available under Section 54EC 

• One can invest them in bonds for up to Rs. 50 lakhs
• The money invested can be redeemed after 3 years, but they cannot be sold before the lapse of 3 years from the date of sale.
• The homeowner has six month’s time to invest the profit in these bonds. But to be able to claim this exemption, you will have to invest before the tax filing deadline

Capital gain is equally distributed between both of you as per my knowledge

Ownership ratio will be determined by the sum contributed by each of you to purchase the flat

2) in present case although property is standing in joint names full consideration has been paid by you 

3)you can  Invest the capital gains to purchase or construct a new house, or invest the capital gains to purchase bonds issued by NHAI or REC. These investments must be made according to Section 54 of the Income-Tax Act.

4) contact a local CA

The transaction pertains to a single property 

That is you and your wife have received payment for the same house

So the investment in 54EC can also be made once and not twice, separately by you and your wife

This i say because in order to avail capital gains tax exemption, the assessee has to invest in one residential house only and the capital gains cannot be spread to two new houses

So on the same analogy, investment in 54EC can also be made once

Sir the capital gain amount shall be different in both the cases, as indexation date of acquiring the property will be different in both the cases. So sir a CA shall help you with the calcualtion of same.

It is well settled law that co-ownership in a property can only be considered from the recitals of the relevant documents and not from any stated intention or claim made, which is legally unsustainable.

In present case full consideration was paid by husband .

3) you have stated that you had paid Rs 327000 and name of wife was added later 

4) in such a case wife cannot claim benefit of tax exemption 

5) contact a local CA

Spoke to a CA friend

He advised that investment of 50l each by you and your wife will entitle capital gains tax exemption

Because exemption is per assessee and not per property 

Also for your wife, the cost of acquisition will be 0 because she has not contributed for purchase of old flat

Also holding period for availing long term CG exemption is 3 years. And your wife has held her half share for 10 years. Thus she can avail exemption 

Each one of the co-owner shall be entitled to claim exemption under Section 54EC, by investing the indexed capital gains up to Rs 50 lakhs. So, the limit up to which investment in specified bonds can be made under Section 54EC, will be applicable in case of each co-owner and not for the property as a whole. 

So, you and your wife both can claim individually.

Sir your wife's name added after 18year , but main thing is that full consideration paid by you

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 gainn

Mumbai Income-Tax Appellate Tribunal

 (ITAT) has recently ruled.

 Now, 1. Can we claim equal amount of capital gain and deposit 50 lac each against 54 EC bonds.

Yes, you can avail the benefits accordingly




 2. will the capital gain for my wife will be calculated from yr.2009. 

The capital gains in respect of your wife shall be calculated from the date of purchase of this property by you.

Different verdicts by different specialists on claiming equal long term capital gain. Is there any reference of Tribunal or court verdict on similar case. It may be noted that my wifes name was added in 2008 i.e. 18 years after allottment. Kindly advise keeping in mind this fact. There will lot of difference in Tax Liability and exemption under 54 EC.

Since your wife's name was added to the property as a co-owner, the computation of capital gains tax shall be from the original date of purchase of this property.