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Issue ID : 118151
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Loan taken from parents

Date 11 Sep 2022
Replies1 Answers
Views 1320 Views
Asked By

sir, client has taken a loan from parents and on demise of the parents , loan was treated as capital receipt . now notice received to treat the same as profit and chargeable under income from other sources! i need guidance on the issue, kindly clarrify

Income Tax
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Replied on Sep 22, 2022
1.

Whether you can send the notice of the Department and also the facts of the loan taken, time etc. to my email id govind.ayyan@gmail.com?

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