sir, q1 My dividend income is more than 5000, so do i need to file ITR 2. q2 I have only interest income from firm and bank and dividend income....are Bank charges deductible from my income. q3 Can we give interest free loan to relative or non relative for personal purpose. q4 If we have taken interest free loan for purchasing securities....is there any special section....
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Itr 2
Replies (4)
1. yes, itr-2...... 2. yes, deductible... 3. yes, you can give but if loan amt is more than 20000 then through cheque only otherwise either cash or cheque..... 4. section 269.
section 269 deals with loans generally and not specifically on interest free loan for purchase of security.
| Originally posted by : Tribhuvan Aditya Singh | ||
 |
section 269 deals with loans generally and not specifically on interest free loan for purchase of security. |  |
if i am filing return of individual then can i give interest free loan in cash of rs. 100000.
if i had already given then what is the consequences
not in cash my friend.... cheque is mandatory for this amt..... if already given then there are two chances... first if i.t.dept. does not find this fact, then no problem.... second if i.t.dept. finds this fact, then it will be added to your income of the year in which loan was given and then penalty proceedings will be initiated.
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