internet on loan from relative
This query is : Resolved
12 July 2016
Any Requestment in law to paid interest on loan from sister,mother,brother,father.
if yes,then which rate.
12 July 2016
No requirement in law to pay interest, it can be interest free loan.
12 July 2016
Where should written in income tax act in which section or any case law on this
12 July 2016
Even for non relative also interest free loan can be given see the ITAT decision.
Chandrankant H shah v ITO(ITAT Mumbai)
Chandrankant H shah v ITO(ITAT Mumbai)
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