1

I am staying in Dubai and I am planning to take a personal loan of INR 10 lacs. I would be using it to purchase a car back in India.

Do I have to pay tax for this? if yes, is there any way to avoid it?

2

You can take a personal loan in Dubai and transfer the funds into NRE account in India and purchase a car. There is no taxes for this in India.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.