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Loan in kind

This query is : Resolved 
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(Querist)
02 March 2013 kindly clarrify

1.whether loan in kind is acceptable under incometax act (

2.any agreement is necessary for such

3.guide me in drafting
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
03 March 2013 Loan in kind means you are borrowing any asset other than money.
.
Income tax do not forbid to the kind people
for providing their assets to some one against a consideration and on the basis of valid agreements.

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