Borrowed Zero Interest Loan of Rs.10 Lacs from a Friend for Trading in Stock Market. How the information is to be reported in ITR and what would be its Taxability implication

Taxation
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Borrowed Zero Interest Loan of Rs.10 Lacs from a Friend for Trading in Stock Market. How the information is to be reported in ITR and what would be its Taxability implications

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Hey @Prabhat_Fortieight,

As the loan is taken for trading you can report it in your balance sheet under liabilities.

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can we take interest free loan from friends and family ?

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Hey @Private,

Ideally not recommended to take interest-free loans. One must consider charging interest at the minimum rates specified by RBI.

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Why take a loan from parents?? They can gift it to you tax free and you can gift it back to them tax free

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The rates are?

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repo rates