Interest free loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 October 2011
What is the provisions of Income Tax with respect to Interest free loans by an Individual & Comapany.....
Can an Individual give and take Interesrt free loans from relatives?
Can an Individual give and take Interesrt free loans from relatives?
03 October 2011
Yes, an individual can give and take interest free loans to/from relatives. There is no such restriction under income tax act.
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