Hi Gurus,
Recently I had taken a personal loan from a private lender to buy an owned car.
I have all the valid proofs of buying the car and even my lender issues me interest certificate.
In this regards I would like to know if I can claim any kind of exemption in Income Tax.
Thank you for your kind help and I am grateful to you.
Are you owner /partner in any business?
Sunil, Udgam,
Thank you for your reply and appreciate your swift response on my query.
I am a salaried person working in private limited company with yearly income more than 15 lakhs per annum.
What you said is possible in my case?
Nah, there is no consideration in your case.
Thanks for clearing my doubts Udgam. I am really grateful to you.
I better start my own business now. 
CAclubindia
