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How to calculate capital gains tax?- Property Hotline
Posted
August 4, 2016
Views
155
August 4, 2016
155
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1:48Now PlayingExpert: Shipra Padhi, Member of International Tax Practice at Nishith Desai Associates.
Question: I bought a house on home loan. I sold it this year. Can I deduct the interest amount from the capital gains to pay tax?
Answer: Capital gains are calculated on the sale consideration (minus) cost of acquisition. The interest amounts can be claimed as part of 'cost of acquisition' of the property.
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