I HAVE TAKEN AN O/D LIMIT TO BUY AND SELL LISTED SHARES(DELIVERY BASED). CAN I CAPITALISE THE INTEREST PAID TO THE COST OF ACQUISITION AND REDUCE MY CAPITAL GAIN AT THE TIME OF SALE?
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LOAN TAKEN TO NUY SHARES OF STOCK MARKET
Replies (2)
Calculation of Tax Long term Capital Gain = The gain is added to the total taxable income of the assessee and the tax is calculated on the total taxable income as per income tax slabs.
Short-term capital gain = Sale price – Expenses on Sale minus the Purchase price
Treat it as business income and claim interest of loan.
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