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Dear Experts,
In ITR 4 (AY 2014-15), if we want to show in Person A ITR that he has given interest free unsecured loan to blood relative, then should it come under:
Loans and advances:
1 Advances recoverable in cash or in kind or for value to be received?
2. Deposits, loans, and advances to corporates and others?
Also, where it should be show in Person B ITR 4 (receiver) ?
And, what is the maximum period for which interest free unsecured loan can be given?
Thanks,
Raj |
