Poonawalla fincorp
Poonawalla fincorp

Capital gain

This query is : Resolved 
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(Querist)
31 July 2012 can the loan amt. or interest amt. can be deducted from sales proceeds while computing INDEXED COST OF AQUISITION or IMPROVEMENT?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
31 July 2012 If the loan is created by the seller of the property,it can't be deducted from the sales proceeds to arrive the capital gains.
Citation :- As a corollary to supreme court decision in Arunachalam's case reported in 227 ITR 222.
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SANYAM ARORA

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SANYAM ARORA (Expert)
01 August 2012 No it cant be deducted
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Shubham Jain

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Shubham Jain (Querist)
01 August 2012 @B.warrier,
no sr d person hv taken loan 4 purchasing n constructing d house...
then can it be deducted?
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Shubham Jain

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Shubham Jain (Querist)
01 August 2012 @B.warrier,
no sr d person hv taken loan 4 purchasing n constructing d house...
then can it be deducted?

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