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long term capital gain on sale of residential property

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 January 2010 we have purchased a residential property before 3 years. Stamp duty & registration charges paid on this transction is taken as a deduction under section 80 similiary every year interest on housing loan repayment is considered as a loss from house property income and principal repayment is considered as deduction under section 80

pl clarify while calculating index vlauation stamp duty payment, registration charges, principal amt of repayment for which we have already claim deduction should be deducted from the original purchase price. also inform wheter interest paid on housing loan should be added in to cost of property (interest is already considered as a loss from house property income)
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Bimal Thacker

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Bimal Thacker (Expert)
07 January 2010 Only Basic Purchase price,Stamp duty and registration charges should be taken as index valuation.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
07 January 2010 Only Basic Price will be taken for calculation of capital gains because deduction of stamp duty has already been claimed.
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