Home loan & principal funded by parents
This query is : Resolved
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
09 August 2014
you can get amount as gift.
09 August 2014
Take the amount as Gift and make a Gift Deed for the same.
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