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Interest free business loan
Can I give interest free business loan to my brother without any tax implications?
Replies (2)
Yes you can, but deemed interest may be added to your taxable income.....
Dhirajlal is right, but you can also ask your brother to apply for working capital loan. The tax authorities will allow tax benefits to companies that have availed business loan for various purposes, such as working capital, inventory and equipment.
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