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Loan to proprietor's brother

This query is : Resolved 
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(Querist)
13 January 2016 Dear Experts,

My query is: Can a proprietorship firm accept loan from the Proprietor's Brother who works in the firm and draws salary from the firm?

Thanks in advance.
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kamal p keswani

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kamal p keswani (Expert)
04 February 2016 Can accept loans from brother as per the provisions of the income tax act
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