GIFT
This query is : Resolved
09 July 2009
A,B,C,D are relatives as per IT Act
A need to repay loan to C 100 and D 80 for that he gets gift from B 40 C 20 and D 20 and 20 of its own repays to C 100 than C gifts back 80 to A and A repay loan to D 80 is it possible??
all the above transactions are done by account payee cheque??
A need to repay loan to C 100 and D 80 for that he gets gift from B 40 C 20 and D 20 and 20 of its own repays to C 100 than C gifts back 80 to A and A repay loan to D 80 is it possible??
all the above transactions are done by account payee cheque??
10 July 2009
It shows only adjustment of account. Therefore just made some time gap while making such transaction Pay full amount of C
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