Hello, I have borrowed about Rs. 30 Lakhs from my brother-in-Law (who is an NRI), at the beginning of this year to do a business. DO I have to pay tax on that in the next FY? Will that be considered inside my income? what is the best way not to pay much tax on that or pay a very small amount of tax? What kind of legal document I should make in order to proof that I have loaned the money at an interest of about 0.1%? Then, I think I dont have to pay much tax on that.
| NIFTY 
