Capital gain

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Shubham Jain (Querist)
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31 July 2012 can the loan amt. or interest amt. can be deducted from sales proceeds while computing INDEXED COST OF AQUISITION or IMPROVEMENT?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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31 July 2012 If the loan is created by the seller of the property,it can't be deducted from the sales proceeds to arrive the capital gains.
Citation :- As a corollary to supreme court decision in Arunachalam's case reported in 227 ITR 222.

SANYAM ARORA

SANYAM ARORA (Expert)
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01 August 2012 No it cant be deducted

Shubham Jain

Shubham Jain (Querist)
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01 August 2012 @B.warrier,
no sr d person hv taken loan 4 purchasing n constructing d house...
then can it be deducted?

Shubham Jain

Shubham Jain (Querist)
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01 August 2012 @B.warrier,
no sr d person hv taken loan 4 purchasing n constructing d house...
then can it be deducted?

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