Tax on money borrowed from father

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Rinkle Mahajan (Audit Executive) (25 Points)
Replied 08 June 2015

Treat this amount as gift from your father and it will be fully exempted from tax.

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Raj Kumar Jha (Article Clerk) (21 Points)
Replied 09 June 2015

No tax liability on any loan fund.. so don't worry about any tax liabilty .. even though you borrow from your father .. ofcouse if you take this amount from your father as gift then you may not have to repay it again and you will exempted from income tax as on gift there is no tax in India from your relative