Loan clearance regarding
This query is : Resolved
26 November 2014
Dear Experts My father in law availed KSFC Laon of Rs.21 Lakhs mortgaging his property. Now I want to clear the entire Loan amount through NEFT transfer from my Current Account. Whether this transaction is genuine transactions or not. If not please advise me how to clear the above loan and take back the pledged documents from KSFC. Thanks in Advance.
26 November 2014
it is better u give them account payee cheque only rather then neft else it may attarct penalty u/s 269SS
26 November 2014
I am confusing sir please elaborate little further. Thanking You Sir
26 November 2014
sec 269SS provides for a penalty of 100% of amount paid to the lender otherwise then by account payee cheque , so i suggested u the same.
26 November 2014
Whether I should write the cheque to KSFC or in the name of My Father in law.
26 November 2014
the person who is paying must pay to any lender or to your father in law only by account payee cheque.
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