Consideration from sale of property
This query is : Resolved
Chintan Kareliya
(Querist)
14 July 2019
My Father has sold property. but part of the consideration had been received in my saving account. whether i have to treat as unsecured loan from father or treat as gift from father. no such gift deed was made during that time??? plz suggest ..
14 July 2019
In the said issue gift deed is not compulsory. Can be treated as loan/gift as both the parties if they so wish.
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