Capital gain
This query is : Resolved
Shubham Jain
(Querist)
31 July 2012
can the loan amt. or interest amt. can be deducted from sales proceeds while computing INDEXED COST OF AQUISITION or IMPROVEMENT?
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.
Citation :- As a corollary to supreme court decision in Arunachalam's case reported in 227 ITR 222.
SANYAM ARORA
(Expert)
01 August 2012
No it cant be deducted
Shubham Jain
(Querist)
01 August 2012
@B.warrier,
no sr d person hv taken loan 4 purchasing n constructing d house...
then can it be deducted?
no sr d person hv taken loan 4 purchasing n constructing d house...
then can it be deducted?
Shubham Jain
(Querist)
01 August 2012
@B.warrier,
no sr d person hv taken loan 4 purchasing n constructing d house...
then can it be deducted?
no sr d person hv taken loan 4 purchasing n constructing d house...
then can it be deducted?
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