Whether interest on loan paid (loan taken to aquire shares) can be included in cost of aquisition for computing Short Term Capital Gain u/s.111A.
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Cost of aquisition
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Hi friend,
The interest cost will also form part of cost of acquisition provided it is not claimed under any other section as it amounts to double deduction under IT Act,1961.
I have attached a Karnataka High court Judgement on a similar subject. Refer the same, surely your query will get solved.
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