Query on ltcg

161 views 1 replies
Suppose A has purchased a house property and has taken a loan for acquisition of the same. A has availed benefits u/ss 80C & 24. After 3 years the property is sold resulting in accrual of LTCG to A. In this situation deduction u/s 80C would be disallowed as it is sold within 5 years from the date of acquisition. Can the reversal of deduction u/s 80C be added to cost of acquisition and indexation benefit claimed thereof for computation of LTCG
Replies (1)

No. The reversal of 80C amount is added to current year's income and not to the cost of aquisition.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register