From borrowed money purchase share. Can take deduction of interest from capital gains whether long term or short term?
Preety Acharya (85 Points)
12 October 2017From borrowed money purchase share. Can take deduction of interest from capital gains whether long term or short term?
Ashiwini Ballodia
(Managing Partner at TAXounting)
(8727 Points)
Replied 13 October 2017
S S Dahale
( Agri and business)
(439 Points)
Replied 13 October 2017
Preety Acharya
(85 Points)
Replied 13 October 2017
Ashwin Kumar
(1229 Points)
Replied 13 October 2017
Ashiwini Ballodia
(Managing Partner at TAXounting)
(8727 Points)
Replied 13 October 2017
Ashwin Kumar
(1229 Points)
Replied 13 October 2017
Ashwin Kumar
(1229 Points)
Replied 13 October 2017
Ashwin Kumar
(1229 Points)
Replied 13 October 2017
Ashiwini Ballodia
(Managing Partner at TAXounting)
(8727 Points)
Replied 13 October 2017
As per me interest cannot be claimed for Caiptal Gain on Share. If you show the capital Gain as business income than only interest is allowed
Ashwin Kumar
(1229 Points)
Replied 13 October 2017
Ashiwini Ballodia
(Managing Partner at TAXounting)
(8727 Points)
Replied 13 October 2017
| Originally posted by : Ashwin Kumar | ||
 |
actually i also thought that way....but afterwards dhirajlal sir explained ....a person can claim interest under both heads....in the case CIT vs Rajagopal rao (2001) the court declared that interest can taken into account for calculating cost of acquisition ... |  |
If Dhirajlal Sir has told you than you are correct
Viswanath Gandikota
(4 Points)
Replied 13 October 2017
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