We are two brothers based in India. My mother is a widow and is based in India.
My borther wants to buy property in Mumbai and wants to borrow money from my mother. He intends to return her money in due course of time.
My questions are:
1. What are the tax liablities for my mother when she borrows money to my brother?
2. Can she claim tax rebates of any sort?
3. What is the best way to lend money for my mother? Gift deed?
Many thanks in advance!