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(Querist)
02 March 2009 I have taken a personal loan through a private bank during this year and i have invested in the shares & securities through a regular franchise and i have winded up with a loss on it. So could i show the respective loss and i want to claim the occurred loss in this year.
So i want to know the details required for the submission of my tax return
(A.Y.2008 - 09)
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Sourabh

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Sourabh (Expert)
18 April 2009 Income tax has nothing to do with the personal loan.Only use of it will be for source of fund.

Loss in shares have been occurred with in a year itself therefore you can claim the loss in the ITR under Speculative loss in business & Profession Head and carry it forward for 4 years and sett off this loss against the speculative business profit only.
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