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Temporary loan to my parents

(Querist) 22 June 2012 This query is : Resolved 
I want to transfer some money to my parents as temporary loan. will it again be taxed in the hands of parents if they repay after some time?
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Sankaranarayanan (Expert) 22 June 2012
Once it is taxable money and no yield of profit by another hand and utlise for reasonable purpose then it is not taxable. If you pay for interest then the interest amount exceed the excemption limit then that amount is taxable
Shonee Kapoor (Expert) 22 June 2012
No it is not taxable.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com
ashoksrivastava (Querist) 23 June 2012
thanks to both of you sirs
regards ashok

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