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Gift of Loan (Assets) to Father

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(Querist)
24 December 2019 Hi All,

I have given loan to a company and now i want to gift that loan to my father through Gift Deed. Is it possible??

And if yes then will my father will be responsible for tax payment on the interest earned or it will be clubbed in my income.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
24 December 2019 1 yes it's possible and interst income taxable in father's hand only.

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