Personal Loan for FNO trading and show as business under Section 37 of ITR

Income Tax Income from Business or Profession
1

Can I take a Personal Loan from a bank, use the loan amount for FNO trading, and show the interest paid to the bank as business expenses under section 37?

2

Hey @Guptak03

Yes, if you are using loan funds for FNO transactions, you can claim the interest paid as a business expense.

3

@CA_Jayni_Bhavsar I am a salaried person, so can I show trading as my business and show both salary and trading while filing tax?

4

Hey @Guptak03

Yes, as a salaried individual, you can show both salary income and trading income while filing your income tax return.

5

@CA_Jayni_Bhavsar, is there any source to confirm that you can share on the above topic