Diduction of borrowed money interest in stcg?

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

29 September 2017 suppose i borrowed 1lk and i invested in equity and i get LTCG 10000 than it's tax free but if i get STCG 10000 than i have to pay 15% tax in which can i get interest diduction of my borrowed money?

Chhatra Singh Dugar

Chhatra Singh Dugar (Expert)
Follow

29 September 2017 Yes whatever expensed incurred in earning STCG it is deductible.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

29 September 2017 I read many places that only brokerage expense allowed but no one mentioned about borrowed money interest. is there any limit on my interest expense figure ? Means i get STCG suppose 100000 and interest is 90000 in such case like how much amount allowed against my borrowed money interest. i mean it could be maximum my STCG or below it ?

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok