The Assessee/Taxpayee when borrower of Bank Loan against mortgaged of their property is not deductible while computing the Income Amount as Long Term Capital Gain (LTCG).
The assessee always mention in their Tax Return about such Borrower Loan against mortgaged of the property along with Year of Purchase/Sale to calculate perfect Long Term Capital Gain and Tax Liability. The cost of Acquisition is related to the Sale/Purchase of LTCG. If the immovable property is sold after a holding period of more than 3 years, than the indexation benefit could be availed to Taxpayee.
The assessee always mention in their Tax Return about such Borrower Loan against mortgaged of the property along with Year of Purchase/Sale to calculate perfect Long Term Capital Gain and Tax Liability. The cost of Acquisition is related to the Sale/Purchase of LTCG. If the immovable property is sold after a holding period of more than 3 years, than the indexation benefit could be availed to Taxpayee.
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