Hello.
I have taken a personal loan on 141000 which has been deposited in my salary account. And an EMI of 4069 will be deducted through ECS from the same salary account. I have transferred the loan amount to another account.
Now my question is should I have to pay any tax on the loan amount that has been deposited to my salari account?
Please advice.

If the transaction is truly a loan and you have to pay the money back, then under U.S. tax law you would not be taxed as though it were income.

You need to define this more. Are you talking about a loan against a 401K? What is EMI and ECS?

Agreed! Though IntlTax's points are valid, we need a LOT more information before we can properly evaluate your case.

Hi,
Thanks everyone for the responses.I am providing some additional informations below.
Actually I have taken that personal loan of 141000 rupees.
EMI -> monthly installment
ECS -> electronoc clreaing system(atomatically deduct from account)
I am talking about the income tax(India).
Please sahre your views.

Who did you take this loan from?

I'm not familiar with India tax laws, but in the US there is no income taxes on a loan nor is there a tax deduction for interest on a personal loan.

Nabindebnath:

This forum addresses U.S. tax issues, not India's tax system.