Loan in kind
This query is : Resolved
vignesh srinivasan
(Querist)
02 March 2013
kindly clarrify
1.whether loan in kind is acceptable under incometax act (
2.any agreement is necessary for such
3.guide me in drafting
1.whether loan in kind is acceptable under incometax act (
2.any agreement is necessary for such
3.guide me in drafting
CA PARAS BAFNA
(Expert)
03 March 2013
Loan in kind means you are borrowing any asset other than money.
.
Income tax do not forbid to the kind people
for providing their assets to some one against a consideration and on the basis of valid agreements.
.
Income tax do not forbid to the kind people
for providing their assets to some one against a consideration and on the basis of valid agreements.
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