ITR Exemption Eligibility

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This query is : Resolved

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A user lost a new mobile phone valued at 1.25 lakh INR due to theft and has an FIR copy. They are inquiring about tax exemption eligibility for this loss under the head of property loss and which section of the Income Tax Act might apply. The response indicates that personal assets lost in this manner are not eligible for any tax exemption or deduction.

SIVARAMESH

SIVARAMESH (Querist)
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29 June 2024 hi
I loss my 1.25L INR new mobile by pick packet theft at patna. I registered a complaint in patna police station and have the FIR copy. can I eligible for tax exemption for this mobile amount in the head of property loss? if Possible, then let me know in which section.