Answer

1. F

   Facts

   Each land or building transfer must be entered separately in Schedule CG. For joint property, each owner reports only their share of sale value and cost. Each co-owner can claim their own exemptions.

2. P

   Provisions and law

   • Sec 48 (now Sec 72)Capital gain is sale value less cost of acquisition, cost of improvement and transfer expenses
   • Sec 50C (now Sec 78)For land or building, stamp duty value replaces the sale price if it is higher by more than 10%
   • Sec 54 (now Sec 82)Long-term gain on a house is exempt if invested in another house in India within the time allowed
3. A

   Analysis

   The ITR-2 user manual says each property sale goes in separately with its own buyer details and stamp value. For the flat held 50:50, if the sale was ₹1 crore, you report ₹50 lakh and half the cost; your wife reports the other half in her return. Buyer PAN and TDS details should match Form 26AS. Exemptions like Sec 54 are claimed by each co-owner on their share.

4. C

   Conclusion

   1. 1Prepare a sheet for each property with dates, values and buyer details.
   2. 2Apply your ownership share for the joint flat.
   3. 3Enter each sale separately in Schedule CG.
   4. 4Match TDS with Form 26AS.

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.