About Computation Of CApital GAins

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 July 2011 Is intt. paid on loan taken to acquire house treated as Cost of Acquisition WHille Computing the Capital GAins on SAle of house

01 July 2011 Interest on housing loan is allowable U/s 24
while computing the income.
In my view, it can not be capitalised.

Only Cost of Acquisition and Cost of improvement can be indexed and can be deducted from the Net Sales Consideration.


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Querist : Anonymous

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Querist : Anonymous (Querist)
02 July 2011 THANX SIR BUT WAT IS THE TREATMENT OF INTT. PAID ON LOAN TAKEN TO ACQUIRE CAPITAL ASSET OTHER THAN HOUSE.?


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