Tax rebate for the losses in the Ponzi schemes
I have invested a sum of around Rs. 10 Lakh in this FY in couple of campanies (Ponzi schemes). But I only got some of the returns from those companies and rest is all loss. So, Is that possible if I can show that investment or payments towards those companies as capital loss or Theft loss in this FY.
I have invested this 10 lakh in mine and my family members name. So, we all got some amount back and rest all is loss. For that amount, which we got back, the 10% TDS was already deducted. So, can we consider that investment as a loss and compute the tax accordingly? For example I have invested the sum of Rs. 60k on the name of my father in this ponzi scheme. My father got around Rs. 10k in his account from these company and on this 10k, 10% tax is also deducted and deposited in the income tax department. So, Around 50K is loss in this scheme. Is it possible if I can show the loss of this 50K in my ITR and get the tax rebate on this amount or the whole 60k (As I have paid the whole money from my pocket and didn't get back anything. My father got 10k and he has already submitted the 10% tax).
Please help.