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Cost of acquisition for computing capital gain not to include interest under section 24(b)

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(Querist)
24 December 2023 When computing capital gains, the interest under section 24(b) from which the interest solely related to loan on acquisition or construction is deducted from cost of acquisition. Similarly, interests under sections 80EE and 80EEA are deducted.

My question is- Do they all have to be in the same previous year or can the deductions availed under these sections in any previous year be deducted from cost of acquisition in the year of transfer? That is, should all deductions of interest availed till year of transfer be deducted from cost of acquisition while computing capital gains?

Thank you.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
24 December 2023 All deductions of interest availed till year of transfer be deducted from cost of acquisition while computing capital gains.
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Shambhavi Sabarish

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Shambhavi Sabarish (Querist)
25 December 2023 Thank you very much sir!
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
25 December 2023 You are welcome...
..
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
14 January 2024 https://taxguru.in/income-tax/cost-acquisition-improvement-include-interest-claimed-section-24.html#google_vignette
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