Hi All,
I took one personal loan in my name and given the money to my parents for their needs.
EMI for the personal loan is getting debited from my Salaried account.
Event month my father deposit some cash into my bank account for the quick loan repayment and help.
So am i liable to pay any income tax on the cash deposit from my father side?
Please help me to access this aspect of income tax.
Thanks,
Kapil