Writing off of unsecured loan
This query is : Resolved
03 February 2026
One of my relatives has refused to refund my unsecured loan of Rs. 20.00 lac paid by me vide cheque before 8 years. He had shown interest payable on loan each year in his Income tax file and also had deducted tax at source. He had already claimed deduction against interest payable to me. On demand, he is showing his inability to refund me the same and threaten me to file case. I don’t want legal action. I am going to write off the said loan in my Income tax file. I only want reversal of his claimed interest on my loan and also addition to his income against writing of my loan. For this, what should I do ? Where to complain ?
04 February 2026
You cannot achieve your objective through Income-tax law alone
Writing off the loan only affects you, not him
His interest deductions cannot be reversed
Loan amount cannot be taxed in his hands unless he records waiver
Writing off the loan only affects you, not him
His interest deductions cannot be reversed
Loan amount cannot be taxed in his hands unless he records waiver
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