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Deductability of interest on loan against shares

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 June 2017 Can interest on loan against shares taken from NBFC be claimed as expense against either F&O income, Short term capital gains (equities), or speculative (intra-day) gains?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
17 June 2017 not against short term trading

for F&O and speculative trading, it will depend on how and to what extent the loaned funds were employed for F&O and speculative activities.

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