Is a Personal Loan amount clubbed in the taxable income for calculating income tax?

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Is a Personal Loan amount clubbed in the taxable income for calculating income tax?

2007-03-28 01:36:23 · 3 answers · asked by ashwini k 1 in Business & Finance ➔ Taxes ➔ India

3 answers

no surely not.. the loan amount is not ur income, its ur liability. u cant club that as income.. but out of that loan amout if u invest in anything, then it should be taxable

2007-03-29 19:23:09 · answer #1 · answered by munch 2 · 0⤊ 0⤋

2016-09-28 10:53:49 · answer #2 · answered by ? 3 · 0⤊ 0⤋

No.

2007-03-29 01:02:27 · answer #3 · answered by Sunnykvb 1 · 0⤊ 0⤋