29 January 2014
How to compute cost acquisition in case of property acquired by loan?? Incase a property purchased on loan and he wish to sell the property can the loan amount be included in cost acquisition..i get this question because LOAN REPAYMENT CAN BE CLAIMED AS DEDUCTION 80C...if we include it in cost of acquisition it leads to double deduction? And also clarify about treatment of interest on loan??
30 January 2014
just take all the expensess incurred to acquire house property...there will not be any dobl deduction...under 80 c deduction is given only upto 100000 for encorage investments...if the same will be dissallowed for capital gain assessee benefit will be zero..which means there is no encrsgement...then no one will be interested in investing..so the same is applicable to interest on loan also...
CAclubindia
