Loan Advanced

Tax Glossary Definition

Loan Advanced

A loan advanced refers to the amount of money lent by an individual or entity to another party, with an expectation of repayment, usually with interest. The interest earned on such loans is taxable as income under the head “Income from Other Sources” or “Business Income”, depending on the nature of the lender.

Example: Lending ₹5 lakh to a business partner generates ₹25,000 interest, which is taxable in the hands of the lender.

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