I brought a residential land in 2003 for 10 lakhs. Registration and brokerage expenses were about 1.4 lakhs.I availed a personal loan for 6 lakhs towards this. Loan duration is 5 years and will be complete in another 6 months.I'm planning to sell this property now for 25 lakhs. Since i was holding the property for more than 3 years,
it will be a long term capital gains. Can i account the interest paid while calculating capital gains?
CAclubindia
