Tax on loan from friend
This query is : Resolved
03 June 2014
If Amit takes loan from Gaurav by signing a loan contract for a tenure of 10 years with at interest rate of 2% per annum. Principal payment to start after 5 years, till then only interest part to be paid. Will Amit become liable for any type of tax? And will gaurav needs to pay any tax on interest earned? Loan amount would be minimum 4 crores rupees.
Guest
Guest
(Expert)
03 June 2014
I HAD MSGD U IN REPLY OF YOUR QUERY .......
Message likes :
1 times
03 June 2014
Thank u sir i have reverted with more details requesting for reply from you
Guest
Guest
(Expert)
03 June 2014
I HAD REPLIED BACK DEAR
Message likes :
1 times
03 June 2014
one last query mailed
Guest
Guest
(Expert)
03 June 2014
ONE LAST REPLY IS IN YOUR MAIL BOX DEAR..........HEHEHEHE
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