Long term capital gain

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Hi, I am finding some difficulty in computing Long Term Capital Gain in one situation. The situation is: Mr.A has sold one building in Feb-2016 who has loan on such property. He repaid loan with interest before selling his above said property. Now whether such loan amount is deductible from from capital gain arise from such sale of property. Thank you
Replies (3)

No, it would not be. If he is a property dealer, then can claim interest expense.

If a loan is taken by him and he is not a dealer in properties, then no deduction of interest.

No loan amount is set off against capital gain.


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