Capital gain
This query is : Resolved
13 February 2014
land purchased on loan and sold thereafter,(long term capital gain).
Whether cost of acquisition will include the interest amount paid on loan while calculating capital gain ?
Whether cost of acquisition will include the interest amount paid on loan while calculating capital gain ?
13 February 2014
yes it will be included. you need to index the interest paid year wise. For eg interest paid in 2009-10 will be indexed from 2009-10 to 2014-15. interest paid in 2010-11 will be indexed from 2010-11 to 2014-15.
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