Short term capital gain tax calculation

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 February 2015 I have sold an apartment within 3 years for which i understand that short term capital gain tax is applicable. Need to know how stcg is calculated and if interest paid on housibg loan for 3 years can be considered as acquisition cost while calculating stcg.

10 February 2015 Interest paid during construction period only can be considered as acquisition cost.

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 February 2015 Just to understand correctly, cost of purchasing apartment is say 10 lacs, selling price is 18 lacs. Interest paid on home loan is 5 lacs, therefore is short term gain tax to be calculated on 18 lacs - 15 lacs = 3 lacs?

10 February 2015 If you have purchased completed apartment and interest paid post completion the above calculation is wrong.


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