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Home loan & principal funded by parents

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(Querist)
09 August 2014 Dear Sir/Madam I'm planning to buy a house and get benefited home loan extension. However I'm planning to get principal amount funded by my father who is now retired and not filing returns. Please advice right way of transfer of funds and whether I can treat this as a gift/loan for this purpose Thanks Raj
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Rupesh Jain

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Rupesh Jain (Expert)
09 August 2014 you can get amount as gift.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
09 August 2014 Take the amount as Gift and make a Gift Deed for the same.
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