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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Inventory of finished goods
- Sale of property furniture sale
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Disallowance of Section 43B(h) to sez units
- Confusion around Form 26QB fields
- Applicability of Ind As to associate of associate
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Bogus purchase treatment for it act gst dealer
- Company Incorporation - CA and directors signing from different states
- Filing of Form 10BB instead of Filing Form 10B
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
