Sir / Madam,

My father-in-law is in need of money for his daughter's [my sister-in-law] marriage and he is asking me to adjust few lakhs amount. My doubt here is, If I give him an interest free loan for 3 lakhs and can I deduct that amount from my taxable income while filing the return by mentioning this loan information?

If it is confusing - in other words - if i give interest free loan to my father-in-law how the tax implications for me ?

Thanks,

Chakri