Loans and advances and gifts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 November 2012
DEAR SIR/MADAM,
I WANT TO KNOW
1.CAN WE RECEIVE ADVANCES FROM RELATIVES INTEREST FREE?
2.IF NOT WHAT SHLD BE INTEREST RATE?
3.WHEN GIFT DEED IS REQUIRED TO BE MADE ?
THANX AND REGARDS
I WANT TO KNOW
1.CAN WE RECEIVE ADVANCES FROM RELATIVES INTEREST FREE?
2.IF NOT WHAT SHLD BE INTEREST RATE?
3.WHEN GIFT DEED IS REQUIRED TO BE MADE ?
THANX AND REGARDS
27 November 2012
1. Yes you can receive interest free loans from your relatives.
However, please ensure that the transactions are through account payee cheques.
2. Not required
3. Gift deed should be prepared when one person gifts any asset to another person.
However, please ensure that the transactions are through account payee cheques.
2. Not required
3. Gift deed should be prepared when one person gifts any asset to another person.
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