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Query on Loan
Dear All, please suggest what will be the problem if a son taking a Interest free loan from his father (both is individual not from business) instead of Gift.
Replies (1)
No problem, but the transactions should be through banking channel .....
Only if the amount is invested by son to generate income, which if assessed as direct transfer of taxable income, the same would be added to income of father, if at higher tax bracket.
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