Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Query on ltcg

Hemant D (na) (303 Points)

13 September 2016  
Suppose A has purchased a house property and has taken a loan for acquisition of the same. A has availed benefits u/ss 80C & 24. After 3 years the property is sold resulting in accrual of LTCG to A. In this situation deduction u/s 80C would be disallowed as it is sold within 5 years from the date of acquisition. Can the reversal of deduction u/s 80C be added to cost of acquisition and indexation benefit claimed thereof for computation of LTCG

 1 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (107951 Points)
Replied 14 September 2016

No. The reversal of 80C amount is added to current year's income and not to the cost of aquisition.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Threads


Subscribe to the latest topics :
Search Forum:

Trending Tags