Can interest on loan be claimed as expenses against short-term gain on sale of shares.
If the borrowed amount from bank is invested for acquisition of shares.
No. Under Capital gains, such expenditures are not claimable.
Yes, if its your routine business.
1. If the transactions are very frequent, mostly on daily basis, then you can treat it as business income; otherwise difficult to be accepted.
2. When already declared under CG, better not to change it for creating any suspicion, specifically, when income gets reduced.
Karia Overseas
Ahmedabad
CA
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Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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