Cost of acquistation of shares
This query is : Resolved
25 February 2014
Dear sir/madam,
I have taken loan of Rs.1 crore from financial institute and i invested the same amount in a company shares and i have paid the emi every month along with interest.I want to sale the shares ,if i get the more than the amount invested can i deduct the interest amount as cost of acquisition for the purpose of capital gain.these shares are not listed shares,and the holding period is more than 36 months.
so please suggest me.
Reg,
Srinivas
I have taken loan of Rs.1 crore from financial institute and i invested the same amount in a company shares and i have paid the emi every month along with interest.I want to sale the shares ,if i get the more than the amount invested can i deduct the interest amount as cost of acquisition for the purpose of capital gain.these shares are not listed shares,and the holding period is more than 36 months.
so please suggest me.
Reg,
Srinivas
04 March 2014
Since the loan has been specifically used to invest in shares, interest paid shall be allowed as deduction.
10 March 2014
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