How to avail tax exemption by giving loan to relative?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 October 2014 How can a salaried person can avail tax exemption by giving loan to relatives? is it really possible?

Also, under which section postpaid mobile bill, internet bill go for individual to avail tax exemption?

Please suggest

Nikhil Kaushik

Nikhil Kaushik (Expert)
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14 October 2014 giving loan doesn't impact your tax liability except for increasing it where interest is to be charged.

expenses are allowed only if incurred for earning business income/other incomes

Querist : Anonymous

Querist : Anonymous (Querist)

14 October 2014 Thanks a lot Nikhil for quick reply.

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