One of my US based friend (not NRI or PIO, but proper American citizen) is willing to lend me some money for my business. I can repay him back as and when I can.
I want to know would be the taxability aspects in this.
Would be grateful if someone can guide me on this.
Thanks...
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Tax on money given by american friend
Replies (2)
Plz can anyone guide me on this?
It will be considered as FDI which is allowed only in few cases... it is advisable to read FDI in detail..
https://www.indiantaxupdates.com/2013/01/06/foreign-direct-investment-in-india-fdi/
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