Tax on money given by american friend
This query is : Open
29 March 2013
One of my US based friend (not NRI or PIO, but proper American citizen) is willing to lend me some money for my business. I can repay him back as and when I can.
I want to know would be the taxability aspects in this.
Would be grateful if someone can guide me on this.
Thanks..
I want to know would be the taxability aspects in this.
Would be grateful if someone can guide me on this.
Thanks..
30 March 2013
that income will not covered under any head
30 March 2013
If it doesnt fall under any head, then does it mean I dont have to pay any tax on it?
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