Father want to give his son 7 lacs if rupees on neglegible interest repayable in 10 years.
can he do that without any tax complications
DR ERODHA
HUKAMCHAND ERODHA (ADMINISTRATOR) 10 May 2022
Father want to give his son 7 lacs if rupees on neglegible interest repayable in 10 years.
can he do that without any tax complications
DR ERODHA
Anamika Vichare (Practising Lawyer) 11 May 2022
Yes father can give loan out of his taxable income
Anamika VichareMumbai
7506552608/7304952608
Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 11 May 2022
Loans from family members or friends are not taxable. Whether the loan is with or without interest, it becomes tax-free for the borrower. However if the lender charges interest from the borrower, he or she has to pay taxes on any interest that is earned from the loan.19-Apr-2022
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