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if i am a normal salaried employee and will not come under
IT payer slab, if i have received a monitory help of
Rs.15lacs from my friend who is staying abroad and it is on
returnable basis, how i can show this in my IT remittacnce?
is there any taxes i have to pay?. if i am going to payback
him every year 1lacs how i have to show this?
please suggest me
Reg
RK
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Answer / ameet narayankhedkar
You can show this as 'Hand loan' . but this needs to have a
proof...like a cheque from your friend / a bank draft.
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