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Loan to major children

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(Querist)
03 April 2017 Can parents give loans to adult children with ZERO percent interest?. What is the procedure/ and agreement format if any.
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CA PRAVEEN SINGHAL

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CA PRAVEEN SINGHAL (Expert)
03 April 2017 Dear Shreekumar,
Parents can give a loan to child at zero interest rate.
There are no formalities as such but prepare a loan agreement as a evidence.
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Sreekumar

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Sreekumar (Querist)
04 April 2017 Thanks a lot. Can u briefly tell about the procedure of making loan agreement.




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