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Interest on acquisition of house property.

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 September 2011 Can the interest paid on loan taken ouse property for acquisition of house propererty considered to be part of cost of acquisition while computing capital gains on sale.
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
19 September 2011 NO; Interest on house property will be deducted from income from house property under section 24(b) but not consider as cost of acquisition.
OM SAI SRI SAI JAI JAI SAI
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