interest free loan
JERIT JOSE (24 Points)
10 December 2018JERIT JOSE (24 Points)
10 December 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160886 Points)
Replied 10 December 2018
At discretion of assessing officer....
Z
( )
(2960 Points)
Replied 10 December 2018
It is also possible that no tax liability to arise by reason of interest-free loan(s). If the transaction does not arise due to any malafide intent and is genuine, then there shall be no treatment of such notional interest.