Loan from brother

MrShivajiprasad (8 Points)

29 May 2018  

Hi , I have a case where my brother from singapore will be transferring around 40 laks to me in Mumbai for my personal use as Loan . I will return the money to him slowly in couple of years time .

 Kindly advise if this should be done as a single transfer of multiple transfer . Will i be still taxed on this amount at the end of the year ?

 

rgds/Shivaji