Loan In cash
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 April 2010
What are the implications of giving a friendly loan in cash? Is it legally recoverable? What are the implications in cases under Negotiable instruments act section 138?
21 April 2010
At the outset, to prove that the amount was a loan, you need some confirmation in writing. The implications under NI Act, will come into picture only after the person has given you an NI and that he dishonours it.
22 April 2010
AGREE WITH RASESH JI.
22 April 2010
agree.
you need some document in writing... and if you have any NI than its good... ask for some cheque or anything.. may be post dated atleast to have a written document and proof...
ALso for safety get anything in mail or some document from him...If possible
you need some document in writing... and if you have any NI than its good... ask for some cheque or anything.. may be post dated atleast to have a written document and proof...
ALso for safety get anything in mail or some document from him...If possible
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Eway bill not cancelled within 24 hous what can be due
- GST rate and HSN code for sale of racing horses
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
