Sec 9(1)(V)
This query is : Resolved
07 September 2009
Dear sir,
When a Non resident provides loan to a Resident. Mr Obama given loan to Mr. Sharma of Indian (Resident)of Rs. 1lac @ 10% pa. Is the resident utilise the loan amount outside india or inside India & any income earned from any other source?
Pls clarify whether it is inside India or Outside india.
with regards,
R. Gurucharan.
When a Non resident provides loan to a Resident. Mr Obama given loan to Mr. Sharma of Indian (Resident)of Rs. 1lac @ 10% pa. Is the resident utilise the loan amount outside india or inside India & any income earned from any other source?
Pls clarify whether it is inside India or Outside india.
with regards,
R. Gurucharan.
07 September 2009
It is inside india
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