Loan of 100,000 rupees taken for treatment of specified disease.
is it taxable or not..?
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Rule 3A interest free loan
Replies (3)
If u are employee than it is not taxable for u
Loan is never taxable. Only interest may be taxable or tax free. Here it is tax free loan.
1. A loan is not an income and it will not come within the ambit of taxable income.
2. For whatever purpose loan may have been obtained, it will not be subject to tax.
3. In your case loan obtained for medical treatment will not be taxable.
Please correct me if the above solution has an alternative view.
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