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Q. > Please Help: Capital Gain
Interest paid on Purchase of Residential House Property is allowed as deduction under the head house Property, Whether the same is allowed as deduction when the house property is sold under the head Capital Gain ? is their any recent case law for the same ??
1 Answers
answered Dec 15, 2012 by CA Satuti Mahajan , batala
yes
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RAKESH JAIN
13-Dec-2012 , 10:42:19 pmNo, Double Benefit is not allowed under Income Tax Act.
RAKESH JAIN
13-Dec-2012 , 10:42:58 pmvipul jadhav
18-Dec-2012 , 07:40:02 pmnope, not allowed under the head capital gains. the same can only be claimed in capital gains only when the interest cost has been capitalised to asset account from the very begining.