Can I give Loan to spouse for tax saving ?

POSTED BY anilpan ON January 25, 2015 4:10 pm ONE COMMENT

I want to loan Rs 10 lac to my wife (who is currently in zero tax slab) with tax saving purpose. My queries :-

  1.   How to make loan deed.
  2.   What is the reasonable interest rate to be charged or can it be interest free.
  3.   Do I have to include such interest received in my other source of income.
  4.   Will loan amount be considered as income to my wife.

One reply on this article “Can I give Loan to spouse for tax saving ?”

  1. murali says:

    please let me know which income tax form to be used for filing returns if the income source is only interest money collected by lending money as loans ?

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