FLAT 20% OFF and 3-Months ADDED Validity on All Courses Absolutely FREE! Enroll Now Use Code: INDIA20
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More


Can father give to son 7 lacs of rupees on neglegible interest

Father want to give his son 7 lacs if rupees on neglegible interest repayable in 10 years.

can he do that without any tax complications



 2 Replies

Anamika Vichare (Practising Lawyer)     11 May 2022

Yes father can give loan out of his taxable income


Anamika VichareMumbai


Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     11 May 2022

Loans from family members or friends are not taxable. Whether the loan is with or without interest, it becomes tax-free for the borrower. However if the lender charges interest from the borrower, he or she has to pay taxes on any interest that is earned from the loan.19-Apr-2022

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Post a Suggestion for LCI Team
Post a Legal Query