Hi..I am into a home-based job providing ITeS solution for a company. I have given DDA a sum of 4,19,000 to clear my dues that I owed to them in Dec. 2007. For this, I got a personal loan of 1.5 lakh from bank, 2.20 lakh (1.8 lakh from my brother and 40,000 from my mother), and 49,000 which I got by surrendering my insurance policies. My question is that can I show this transaction as capital loss from house and get some rebate on my tax???
