Hi,
I have to lend more than Rs. 10L to my friend. I want clear documents so that there is no tax/legal problems later. What paper work is required? and What details should be included in the document? Is there any available sample document?
If I get any interest, what will be the tax liability?
Many many Thanks
You can prepare and agreement on stamp papers about loans & interest and what percent interest have to charge. Only interest will be chargeable to tax which you will recd.
Thanks Pankaj Ji.
Can I find a sample loan agreement on internet?
Thanks a lot.
Puneet
Yes you can search on google.
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