24 December 2023
When computing capital gains, the interest under section 24(b) from which the interest solely related to loan on acquisition or construction is deducted from cost of acquisition. Similarly, interests under sections 80EE and 80EEA are deducted.
My question is- Do they all have to be in the same previous year or can the deductions availed under these sections in any previous year be deducted from cost of acquisition in the year of transfer? That is, should all deductions of interest availed till year of transfer be deducted from cost of acquisition while computing capital gains?
CAclubindia
