Cash loan from friends
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 March 2012
Hi,
What are the rules and regulations if i am taking cash loan of Rs.40000/- from a friend.
Also, if i make payment of Rs. 200000/-towards purchase of property in cash after withdrawing money from my account, what are the issues.
Kindly reply.
rgds,
Gagag
What are the rules and regulations if i am taking cash loan of Rs.40000/- from a friend.
Also, if i make payment of Rs. 200000/-towards purchase of property in cash after withdrawing money from my account, what are the issues.
Kindly reply.
rgds,
Gagag
26 March 2012
as to accepting of loan in cash from a friend in excess of Rs.20000 shall be liable for action under section 269SS & 269T.
Same may apply to the purchase of property in cash.. however this is towards asset purchase and shall be allowed.
Same may apply to the purchase of property in cash.. however this is towards asset purchase and shall be allowed.
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