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Loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 March 2010 Can a person take a loan from their relative for acquiring land.upto what limit they can take loan...........can a person accept gift from their relative in cash more than 50000 from per relative
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sivadas chettoor

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sivadas chettoor (Expert)
27 March 2010 A person can take a loan from any other person even if a relative subject to the provisions of Sec 269SS of the IT Act
(where the limit is Rs 20000). You can take gift from relatives even in cash if the person is a relative defined in Sec 56.

siva208@yahoo.com
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
27 March 2010 agree with expert
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