ANSWER:

It is not permissible to take interest based loan at all as it’s a major sin.

In India to buy a expensive car we have to apply for a loan so that we don’t get problem related to income tax as due to high tax people don’t pay fully income tax is it haram as we people have to do it purposely.

Loans | February 10, 2019 4:35 am
Previous

My father recently took a loan from my grandfather so that a business can be opened with it and now I’m the one in charge of the business and according to my father I am the one expected to pay back the money and my father said that he took the money for me and not for himself now my question is once I payback my grandfather does that make me the rightful owner of
Next

What is the ruling about a person who had given debt to someone & later on said that he has forgiven that debt and doesn’t want it to be repaid but after sometime asks for debt to be repaid or keeps reminding that he has given debt to the other person? Does the creditor retain the right to be repaid even after he had clearly in his complete senses had forgiven the debt?