Diduction of borrowed money interest in stcg?
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 September 2017
suppose i borrowed 1lk and i invested in equity and i get LTCG 10000 than it's tax free but if i get STCG 10000 than i have to pay 15% tax in which can i get interest diduction of my borrowed money?
29 September 2017
Yes whatever expensed incurred in earning STCG it is deductible.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
29 September 2017
I read many places that only brokerage expense allowed but no one mentioned about borrowed money interest. is there any limit on my interest expense figure ? Means i get STCG suppose 100000 and interest is 90000 in such case like how much amount allowed against my borrowed money interest. i mean it could be maximum my STCG or below it ?
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