A an individual having salary income.recd shares from an unlisted company B. B gives Loan for purchase of the unlisted shares to A employee of the companys sister concern. B decided to buy back the shares after 3 months.
A gets the proceeds from the shares . and pays back the loan taken from B to buy the shares with interest
In the case of A
1. is the gains on buyback of the shares is chargeable to tax under short term capital gains?
2. whether the interest paid on the loan can be deducted from the gains made on buyback?
3. where in itr2 should the details of such capital gains be shown?
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