Hello Diosys,
I am a salaried emplyoee. I excersied ESOP option alloted to me in 2007 by taking a bank loan for the entire amount.
I recently sold my shares and settled the loan in full.
I have the following doubts.
1. Since I have sold the shares after 2 years I will not incur any long term captital gains tax. Right?
2. This loan might be treated as a personal loan. I have paid interest around 3.5 lacs for this loan. Can I claim any type Tax deduction for this interest paid? If so under what section would the caim be? Please clarify.
Thanks
Murali
I am a salaried emplyoee. I excersied ESOP option alloted to me in 2007 by taking a bank loan for the entire amount.
I recently sold my shares and settled the loan in full.
I have the following doubts.
1. Since I have sold the shares after 2 years I will not incur any long term captital gains tax. Right?
2. This loan might be treated as a personal loan. I have paid interest around 3.5 lacs for this loan. Can I claim any type Tax deduction for this interest paid? If so under what section would the caim be? Please clarify.
Thanks
Murali