Anyone help me I had given loan to a person ??
Anyone help me I had given loan to a person for interest? Now he is giving back my money, The amount is 10 lakhs do I need to pay tax? I given this loan in 2013 , I hardly worked for more than 6 years to earn that money , I saved a lot to earn that money , I had given 3.5 lakh as NEFT transfer from my bank a/c,Due to some reasons I had sent rest 6.5 lakh in the form of cheque from my relatives person a/c in 2013, (i,e I given 6.5 lakhs to my relatives person hand to hand and he deposited that money in his bank a/c and he given cheque in his name to the receiver)and i used to get interest of 8000 per month for that loan, I am getting tensed a lot in this issue , I didn’t made heavy amount transactions in my account, If i suddenly receive 10 lakhs in my a/c , will that money be considered as black money ? I didn’t made any bond or agreement while giving loan , Now i had the only transaction proof of 3.5 lakh with me , How to solve this entire issue to prove my money as white money and to avoid tax paying ? This is my life issue i worked very hard to save this money ,and this is very large amount to me ,