Can i get deduction on interest paid for personal loan?

Forums Deductions Can i get deduction on interest paid for personal loan?

Can i get deduction on interest paid for personal loan?

Hi i have taken personal loan and use the amount on Share market and make loss.
Can i get a deduction on interest paid amount?

Profile photo of savita Asked By: savita 3 replies 2 helpful answers Last Updated: 3 weeks, 6 days ago
  • Profile photo of savitasavita
    Participant

    Hi i have taken personal loan and use the amount on Share market and make loss.
    Can i get a deduction on interest paid amount?

  • Profile photo of Roohi RasheedRoohi Rasheed
    Moderator

    As per income tax law you will not be able to claim any deduction on the interests paid on the personal loans.

  • Profile photo of Nitesh BindNitesh Bind
    Participant

    No, You can not take any deduction or benefit for personal loan.

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