My father and his two brothers shared a house equally.After my fathers death his shsre came to me and my mother equally due to inheritance.Both of my fathers brothers have given their share to me after my fathers death.Now by new law the name of my wife will be written on the municiple records along with me.
So the municiple record have me and my wife as joint holders and the property card shows that me and my mother are joint holders and the other two owners have given their rights to me and so the property card has my name and my mothers name.
In what percentage the property should be owned for Income Tax purpose ?
I think 42%me+42%my wife+16%my mother should be correct or 84%me +16%my mother is correct?
Please help.
