I have taken Personal Loan to buy stocks can I get tax benefit on its interest ?

Tax queries 438 views 1 replies

I have taken Personal Loan back in 2022 and invested the entire amount in stock market, Can I get any tax benefit on the interest paid amount ? and if yes can I file ITR 2 and add the amount as a cost of acquisition and what is the max amount limit that I can get tax benefit on.

I dont want to file a ITR 3 as a business or profession expense as then I wont be able to switch back to normal ITR 1/2.

 

Replies (1)
You can adjust the interest on loan from the dividend income subject to 20% of the dividend amount.


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