Capital gains tax on jointly owned property in India is calculated and taxed individually for each co-owner based on their ownership share, as evidenced by the title deed. The income source of co-owners, whether salary or pension, is irrelevant for this calculation. Each co-owner computes their capital gains by apportioning the sale consideration and deducting proportionate costs and expenses, reporting it in their respective income tax returns. The article also briefly addresses missed advance tax deadlines and potential interest under Section 234C.