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Loan taken from parents, Income Tax

Issue Id: - 118151
Dated: 11-9-2022
By:- vignesh VSACCOUNTOPRIVATELIMITED
Loan taken from parents

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sir, client has taken a loan from parents and on demise of the parents , loan was treated as capital receipt . now notice received to treat the same as profit and chargeable under income from other sources! i need guidance on the issue, kindly clarrify

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1 Dated: 22-9-2022
By:- DR.MARIAPPAN GOVINDARAJAN

Whether you can send the notice of the Department and also the facts of the loan taken, time etc. to my email id govind.ayyan@gmail.com?


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