Loan from an nri

This query is : Resolved

vanita (Querist)
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21 December 2016 Hi,

what all can be the impact of amount nearly 1.00 cr is recd from an NRI (Foreign NAtional)
NOT a Blood Relation
what can be the impact of taxes ? & also can that be shown as loan from foreign national to save tax ??
please guide

Sandeep Dharar

Sandeep Dharar (Expert)
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21 December 2016 The amount is fully taxable, if not received from any relative. U may visit the following link for definition of gift:-

http://taxguru.in/income-tax/detailed-analysis-gifts-taxation-income-tax-act-1961.html

Better not to treat as loan, coz TDS compliances will arise for interest payment on that loan.