Loan from an nri
This query is : Resolved
21 December 2016
Hi,
what all can be the impact of amount nearly 1.00 cr is recd from an NRI (Foreign NAtional)
NOT a Blood Relation
what can be the impact of taxes ? & also can that be shown as loan from foreign national to save tax ??
please guide
what all can be the impact of amount nearly 1.00 cr is recd from an NRI (Foreign NAtional)
NOT a Blood Relation
what can be the impact of taxes ? & also can that be shown as loan from foreign national to save tax ??
please guide
21 December 2016
The amount is fully taxable, if not received from any relative. U may visit the following link for definition of gift:-
https://taxguru.in/income-tax/detailed-analysis-gifts-taxation-income-tax-act-1961.html
Better not to treat as loan, coz TDS compliances will arise for interest payment on that loan.
https://taxguru.in/income-tax/detailed-analysis-gifts-taxation-income-tax-act-1961.html
Better not to treat as loan, coz TDS compliances will arise for interest payment on that loan.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- Grand in aid
- ASMT-10 received from A O
- IT returns for fresh job holders
- ITR-Capital Gain
- Traces submitting correction statement error
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Residential status of non resident
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
