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Tax on loan from foreign friend

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 May 2015 May I know the Tax Laws on Loan from Foreign Friend. Is it Taxable under Income Tax Laws?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
08 May 2015 no. why would a loan be taxable as Income? However, you will have to comply with RBI guidelines on the same.

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