Loan from Wife....

yes, he can take loan and it will be an unsecured loan in nature generally. but if such money of wife is niether earned by her nor her part of dowry and it was given as a gift by her husband in past, then interest paid on such loan will be clubbed in husband's income.

agreed with anand.

Loan from Wife can be taken..Interest will be allowed as deduction, But Rate of Interest should be as per market rate otherwise AO can challenge Rate of Interest as unjustifiable u/s 40A(2) and disallow the excessive interest....

YES LOAN CAN BE TAKEN FROM WIFE, IF ANY INTT. PAID BY THE HUSBAND TO WIFE IT SHALL BE CLUBBED IN THE INCOME OF THE HUSBAND

agreed with all

Lone can be taken from wife and intt is allowed on it,

the only point is u have to prove that the amount of lone is earned by ur wife in past and u r not gifted this amt to her in past.............

Yes loan can be taken from wife and if any interest is paid by her husbant to wife then such interest shall be clubbed in the hands of husband and i m agree with Mr. Narender

Business and business man are considered as separate entity. So, if Mr. X takes loan from Mrs. Z in his business then it shall be allowed provided Mrs. Z had sufficient own source for such payment.

If she gives loan from her husband's money just to cheat others (revenue) then it shall be considered as Mr. Z's own fund and any interest on this shall be clubbed in his income.

completely agree with Reetika..........Mrs.Z has to prove that she has sufficient fund  (own source) for providing such loan .......Interest will be allowed but it should not be overrated.....

agreed with anand

In short I can summarise that, in normal circumstances. Interest @ 5-8 % p.a. can be allowed as deduction by A.O., but don't forget to disclose this income in returns of wife

but everyone should also note that source of funds to wife should also be disclsed. either she has been filing the ITR and has created her capital from where she has given the present loan or she has accumulated the dowery (or pin money). only then we can claim payment of interest as per market rates. otherwise, it will be disallowed.

However, we can take interest free loan from wife at anytime. :)

Yes he can take a loan from his Wife but it is subject to TDS if TDS is deducted from the Interest Payment then it is allowed as business expenses or vise versa.

Whether Husband can give loan to wife at concessional rate or without interest ?