I HAVE TAKEN AN O/D LIMIT TO BUY AND SELL LISTED SHARES(DELIVERY BASED). CAN I CAPITALISE THE INTEREST PAID TO THE COST OF ACQUISITION AND REDUCE MY CAPITAL GAIN AT THE TIME OF SALE?
2 Replies
Asha Kanta Sharma
(Manager - Finance & Accounts)
(36355 Points)
Replied 24 August 2023
Calculation of Tax Long term Capital Gain = The gain is added to the total taxable income of the assessee and the tax is calculated on the total taxable income as per income tax slabs.
Short-term capital gain = Sale price – Expenses on Sale minus the Purchase price
Manish
(CA)
(1172 Points)
Replied 24 August 2023
Treat it as business income and claim interest of loan.
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