Conversion of loan from relatives into gift
Querist : Anonymous
in financial year 31.3.12. Can this loan be converted now into Gift by book entry and
making a notorised gift deed or first the loan has to be returned and thereafter cheque
for gift will have to taken.
.
Querist : Anonymous
reply.
Kindly clear my one doubt.
By converting loans from relative into gift
(book entry), will there not be contravention
of provisions section 269 or so which deals
with loans.
Querist : Anonymous
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