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Query on income tax

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chithra (Querist)
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11 August 2014 Can I take a loan(interest free or with interest) from my husband pledging my jewels and use the amount to invest in FD/shares? In such case what will be the tax implications for me and my husband. Will be very helpful if someone can throw some light on this. Thanks much in advance.

Rupesh Jain

Rupesh Jain (Expert)
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12 August 2014 there is no deduction of intt paid on loan. but intt. and share profit income will taxable in your hand.

intt paid to his husband will taxable in your husband hand.

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