Documentory proof for unsecured loan
This query is : Resolved
28 December 2016
We decided to take unsecured loan from a business concern.
What are the documents to be kept by us to prove that it is not our income but only a loan(for the income tax purpose) ?
Whether loan agreement is required.if yes what are the steps for the agreement drafting ?
What are the documents to be kept by us to prove that it is not our income but only a loan(for the income tax purpose) ?
Whether loan agreement is required.if yes what are the steps for the agreement drafting ?
ASHWANI DHANUKA
(Expert)
28 December 2016
For Income Tax Purpose:
Obtain Loan Confirmation from the concern from whom the UL has been taken.
Agreement is not mandatory. (Not recommended too)
Obtain Loan Confirmation from the concern from whom the UL has been taken.
Agreement is not mandatory. (Not recommended too)
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