Tax benefit on interest paid on personal loan

Manigandan (39 Points)

03 July 2023  

Hi,

      In FY23, I worked for only one month (Apr 2022) as an employee of a firm and then was unemployed for the rest of the year. I took a personal loan and bought stocks (Equity - Cash Delivery) and sold the stocks after few months that resulted in Short term Capital Gains for FY23. Can I avail the tax benefit by subtracting personal loan interest from the Short Term Capital Gains ?

Thanks

Mani