Hi

I have purchased a flat in Bangalore. It is under construction. The total cost of flat is 45L (without registration). I have taken 30L home loan from SBI. 10L I have taken from my father for down payment.  

My questions are

• How to show the 10L amount during my income tax filing? (I will return this to my father without interest in future)
• Will this amount create any problem in future?

• Is this amount is taxable?
• Should I show this amount as a gift or loan? If it is gift, than does any tax on my father? Do I need to declare anything?

Please help me.

Pankaj Kumar