I have bought Stocks in MTF can I get tax benefit on the interest amount?

Margin Trading Facility (MTF) margin is considered a loan for tax purposes Interest paid on MTF margin is eligible for tax benefits under:

1. Section 36(1)(iii):Deduction for interest expenses: You can claim a deduction for interest paid on MTF margin as a business expenses, if the investment is for business purposes.
2. Section 80C: Deduction for interest on loan for shares: You can claim a deduction upto Rs. 1,50,000 for interest paid on loan (including MTF margin) for purchasing shares or debentures.
3. However, to avail of these benefits:
4. Business Purpose: The investment should be for business purposes, not personal or investment purposes.
5. Docummentation: Maintain records of interest paid, loan statements, and investment details: 
6. ITR filing: claim the deduction in your income tax return. 

Thank you for your reply.

Actually I don't want to file my ITR as a business / profession as if I do so then I will have to do the same for lifetime as I wont be able to switch back to ITR 2.

But my problem is that I have taken personal loan back in 2021 and invested all the amount in MTF stocks and this year in may 2024 my broker sold my stocks as the contract was over and hence I calculated all the MTF interest paid all these years which came up to 5 lac and my personal loan interest which came up to 3 lac or more. Interest was calculated from the year I bought to the year I sold the stocks. So I wanted to get some tax benefit on this overall amount of 8lc +

Can you pls suggest to me what I should do. 

Thanks a lot for your time.