I Tax problem

VIJAY GUPTA (CHARTERED ACCOUNTANTS) (75 Points)

07 September 2008  

Mr. A got few loan form friends and relatives  and interest on them. He invested the money in property and some business.  Form property he ralized the capital gain and from business the profit.  Now the questiion is whether the interest paid on loan took in persoanl capicity be claimed as expenditure  and how ?