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Took Personal Loan from my wife's bank account and transferred to my account to invest in stock

Tax queries 463 views 3 replies

I took a personal loan from my wifes bank account and trasnferred it to my bank account and invested the money in stock market. 

So can I show the interest charges in my tax filing and get some tax benefit ?

Like can I add the interest amount to the cost of acquisition of a specific stock bought by the loan money and claim tax benefit ?

Replies (3)

Payment of any interest to spouse is generally not accepted by ITD.

Thank you for your reply.

You are welcome.                   


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