Loan from family sources


This query is : Resolved 

Quick Summary
If you're receiving a significant loan from family for a property purchase, it's wise to prepare for potential income tax inquiries. Ensure the loan is documented via bank transactions for transparency. You'll likely need a confirmation letter from the lender if authorities ask for clarification.

(Querist)
12 March 2025 I am receiving a loan of thirty lakh rupees, all in white through bank transaction, from family resources for buying a property. What documents shall be needed for income tax authorities in case a query is raised in future.

12 March 2025 A confirmation letter from the loaner as and when any query raised by any authority.

nirmal (Querist)
13 March 2025 Thanks for the prompt response Sir.🙏

13 March 2025 You are welcome.

04 October 2025 Good luck...


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