Loan from Non resident
This query is : Resolved
07 January 2011
I just wana know that are there any tax incidence if a resident takes loan from a non resident. Kindly refer to the sections if the answer to the above is affirmative.
I just wana know that are there any tax incidence if a resident takes loan from a non resident. Kindly refer to the sections if the answer to the above is affirmative.
07 January 2011
If amount received is in nature of loan then no tax implication is you can prove the credibilty of the giver and genuineness of the transaction.
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