banner_ad

Hand loan

This query is : Resolved 
Quick Summary
Discussion on hand loans: can be given via bank (cash restricted under tax laws) and may be interest-free or interest-bearing. Defined as informal loans given without documentation, usually among friends or relatives based on trust.

Profile Image

Profile Image

(Querist)
09 February 2023 1. Can the Hand loans be given through bank channels like NEFT, cheque etc or is it always cash loan.
2. Is the Hand loan always interest free or it can be with interest also?
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
09 February 2023 1 yes, cash loan not allowed under income tax.
2 It can be with interest also.
Profile Image

Shweta

Profile Image

Shweta (Querist)
09 February 2023 Thanks. What exactly is the meaning of the word "Hand Loan". The Google does not have many satisfactory answers.
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
09 February 2023 Hand loan means no documents will be executed and it's given to friends and relatives based on good faith.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
ARTICLESHIP 05 May 2026
ARTICLED ASSISTANT

JS ADVISORS

New Delhi

CA Inter

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details