Buying a house jointly define ownership perportionately – Shailesh Kumar
When you purchase a house jointly with your wife or any other relative, make sure that the proportion of ownership is defined at the time of registration. It will ensure that the tax liability is in proportion to percentage of ownership. Also, both the owners can take the tax benefits based on their share in the house.
- Shailesh Kumar, Director- Director Taxation shares his views on aforementioned story for Business Standard.