India, Sept. 20 -- When a Bengaluru-based couple, Rohan and Meera, bought their first apartment, they ensured tax compliance from the start. Both contributed equally to the down payment and EMIs, routing all transactions through their respective bank accounts. Their builder's receipts and sale deed reflected a 50:50 ownership ratio. By maintaining a clear paper trail, they avoided mismatches and potential tax disputes.

When a couple in India ventures into the acquisition of immovable property in joint names, it becomes imperative, for the purposes of tax compliance, to ensure that a robust evidentiary trail of the source of funds is preserved.

"When buying house with a spouse, ensure it's in joint name, split costs of EMI equally if pos...