Loan of 100,000 rupees taken for treatment of specified disease.
is it taxable or not..?
3 Replies
Kapadia Pravin
(17264 Points)
Replied 24 September 2019
Loan is never taxable. Only interest may be taxable or tax free. Here it is tax free loan.
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 24 September 2019
1. A loan is not an income and it will not come within the ambit of taxable income.
2. For whatever purpose loan may have been obtained, it will not be subject to tax.
3. In your case loan obtained for medical treatment will not be taxable.
Please correct me if the above solution has an alternative view.
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