ITR 4 - how to show interest free Unsecured loan in PART BS

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  1. Raj123

    Raj123 New Member

    Dear Experts,

    In ITR 4 (AY 2014-15), if we want to show in Person A ITR that he has given interest free unsecured loan to blood relative, then should it come under:

    Loans and advances:

    1 Advances recoverable in cash or in kind or for value to be received?

    2. Deposits, loans, and advances to corporates and others?

    Also, where it should be show in Person B ITR 4 (receiver) ?

    And, what is the maximum period for which interest free unsecured loan can be given?

    Thanks,

    Raj
     
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