Car loan from parents interest free

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1 Points Posted on 23 October 2023

Hi, Please let me know:

Can I take interest free car loan from parents.

And do we need to show the same anywhere in income tax form??

Thanks

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On 23 October 2023 at 09:07 Report
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Quick Summary
This discussion explores the possibility of receiving an interest-free car loan from parents. Participants confirm that taking funds from family for a car purchase, even without interest, is generally permissible. The conversation also touches upon whether such transactions need to be declared on income tax forms.

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"Do the Right Thing...!!!"
128157 Points Posted on 23 October 2023
You mean amount received from parent and buy car.
right...??!
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On 23 October 2023 at 09:56
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CFO- at NHTF
58280 Points Posted on 25 October 2023
Taking amount from parents for interest free is very much allowed
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On 25 October 2023 at 05:01
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Profession
28271 Points Posted on 25 October 2023
It's not a loan from blood relation.
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On 25 October 2023 at 06:33

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