Capital gain
This query is : Resolved
14 August 2016
Dear experts
I took a loan for the acquisition of capital asset I.e. house, After 4 years I want to transfer it. My question is that weather principal amount and interest on such above loan are required to be deuctable in computing capital gain under section 48. If the principal amount is say rs. 600000 and interest amount is rs.200000
I took a loan for the acquisition of capital asset I.e. house, After 4 years I want to transfer it. My question is that weather principal amount and interest on such above loan are required to be deuctable in computing capital gain under section 48. If the principal amount is say rs. 600000 and interest amount is rs.200000
14 August 2016
Whatever the amount paid during the year subject to maximum allowable u/s 24 or u/s 80C can be deducted.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
