Ownership share in Sale Deed
4 years ago
I have finalized purchase of resale property in Bangalore and scheduled to enter into the sale deed shortly with myself and my wife as the joint owners. In this connection, I plan to mention the ownership share between my self and my wife as 70% and 30% in the sale deed itself so that our combined income tax gets optimized (my wife earns less than me at present). These are my questions:
(1) Is to okay to incorporate ownership share in sale deed?
(2) What are the pros and cons of mentioning ownership share in the sale deed?
Kindly advise.
A.Dear Sir
Please consult Chartered Accountant as it relates to Tax.
Please consult Chartered Accountant as it relates to Tax.
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