Interest free business loan
Gaurav Khandelwal (2 Points)
22 March 2018
Can I give interest free business loan to my brother without any tax implications?
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(185376 Points)
Replied 22 March 2018
Yes you can, but deemed interest may be added to your taxable income.....
Amit Kumar
(MBA finance)
(37 Points)
Replied 28 September 2018
Dhirajlal is right, but you can also ask your brother to apply for working capital loan. The tax authorities will allow tax benefits to companies that have availed business loan for various purposes, such as working capital, inventory and equipment.
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