banner_ad

Reg interest free loan from relatives

This query is : Resolved 
Profile Image

Profile Image

(Querist)
07 May 2015 no interest has been paid in current year
while was paid during previous year.is there is any prosecution under income tax act for non giving interest to relatives on unsecured loans
Profile Image

CS Advocate Abhishek Goyal

Profile Image

CS Advocate Abhishek Goyal (Expert)
08 May 2015 There is no such prosecution but if scrutiny comes you may have to explain the AO why interest was not paid to relatives in current year while it was paid last year. Though there is no bar on availing interest free loan from relatives.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI
ChatGPT Perplexity Claude Google AI Grok

CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details