Interest on loan taken to buy shares.
This query is : Resolved
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 ..?
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
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