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Joint owner not liable to pay Tax if no amount paid from his/her account for purchase of property

Joint owner not liable to pay Tax if no amount paid from his/her account for purchase of property

The Mumbai Income Tax Appellate Tribunal has ruled that Joint owners of properties by mere name cannot be held liable for Tax liabilities if the purchase of the property was not financed by him/her.Many people/couples purchase flats/properties in Joint names for convenience and security sake,but the mon...
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