whether interst paid on loan taken for investment in shares is allowable expenditure ?
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Interest paid on loan taken for investment purpose
Replies (1)
If the income chargable under "Capital gain", interest on loan taken for investment in shares in not allowable under IT Act.
Interest on Loan for investment in shares is admissbile expenses if your regular business is dealing in purchase and sale of shares and income on such transaction is taxable under "Income from Business or Profession.
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