Cost of acquisition of shares

Karan Gaur (Querist) 18 January 2013 This query is : Resolved
Whether interest on loan taken for the purpose of purchase of shares can be included in the cost of acquisition of shares.

Follow Query

Report Abuse

prabhakar singh (Expert) 18 January 2013
Yes! why not?

Karan Gaur (Querist) 18 January 2013
then what is the capital gain under this case:

Shares Purchsed F.Y 09-10 for Rs. 100000. Fund borrowed 100000 @ 12%.

Shares sold F.Y. 2012-13 for 200000

What is the capital gain?

Inlfation Index for F.Y. 2009-10 is 632
& for F.Y. 2012-13 is 852

prabhakar singh (Expert) 18 January 2013
NO CAPITAL GAIN TAX IS ATTRACTED ON SHARES SOLD AFTER HOLDING FOR MORE THAN ONE YEAR.ITS' A LONG TERM CAPITAL GAIN EXEMPTED FROM CAPITAL GAIN TAX WITH A RIDER THAT NO SUCH CATEGORY OF LOSSES CAN BE CARRY FORWARDED.

Raj Kumar Makkad (Expert) 18 January 2013
Better to consult with tax lawyers.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries