long term capital gain on sale of residential property
This query is : Resolved
Querist : Anonymous
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)
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)
07 January 2010
Only Basic Purchase price,Stamp duty and registration charges should be taken as index valuation.
07 January 2010
Only Basic Price will be taken for calculation of capital gains because deduction of stamp duty has already been claimed.
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
- About TDS & Income Tax
- Under construction property in ITR
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- Presumptive income under 2025 ACT
- GST ON TRAVELLING BILLS
- F & O PROFIT REPORTING FOR AY 2026-27
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
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
