https://www.taxtmi.com/forum/issue?id=120983 Taxability of amount received from an acquaintance depends on whether it is a bona fide loan or a gift. A bona fide loan is not taxable on receipt or repayment. If treated as a gift from a non-relative and the receipt exceeds the prescribed threshold, the entire amount received is taxable as Income from Other Sources under section 56(2)(x). Any cash repayment of a loan must comply with section 269T. en-us Mon, 29 Jun 2026 17:26:05 +0530 Tue, 30 Jun 2026 01:34:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120983 Taxability of amount received from an acquaintance depends on whether it is a bona fide loan or a gift. A bona fide loan is not taxable on receipt or repayment. If treated as a gift from a non-relative and the receipt exceeds the prescribed threshold, the entire amount received is taxable as Income from Other Sources under section 56(2)(x). Any cash repayment of a loan must comply with section 269T. Discussion-Forum Income Tax Mon, 29 Jun 2026 17:26:05 +0530 https://www.taxtmi.com/forum/issue?id=120983