Loan from my friend

Alex John (0 Points)

30 October 2017  

Hello my friend won a lottery and the government already taken the tax from the price amount. He is willing to give me the full amount 1.5 crore to start the business and to do some term deposit for the next 15 years after that I should return the amount. Should I need to pay any income tax to government if I am taking the money from him as a loan without any interest