30 July 2012
My clint has taken loan to buy shares. Now when he is selling shares he has got shor term cap gian. So is there any provision for which i can claim the interest amt as expense from short term cap gain or can i increse the cost of shares upto that interest ..?
30 July 2012
yes, as short term cap gain is a taxable event hence it can be used to increase cost of shares, but it would be proportionately bcoz it wil not be used due to dividend sttriping provisions .......its a critical issue ... requires huge calculations
CAclubindia
