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Personal loan tax
I had taken a personal loan of 3 lakhs on my credit card as some offer was coming though I did not need the money. I invested the funds in a mutual fund. I am regularly paying the emi. I have query that is it ok to do such Translation and do I have any tax liability on it
Replies (1)
No tax liability. However,if you sell the units of mutual fund then tax on capital gain on such sale shall be payable as per applicable provisions.
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