Tax on Deposit

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Mahesh Vankhede (Querist)
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25 August 2016 Hi, I am helping one of my relative in business. He need to pay a big amount as deposit and don't have money. So I am taking loan my home and giving him that money as deposit. My question is if he or I will be charged any tax or if we will have to pay any fees for these transactions. Regards, Mahesh

Amol S Joglekar

Amol S Joglekar (Expert)
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25 August 2016 No fees, nothing.... You give the said sum by crossed account payee cheque.

Mahesh Vankhede

Mahesh Vankhede (Querist)
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25 August 2016 Hello Sir, Are you from Thane. If yes pls share your contact details. Regards, Mahesh

Amol S Joglekar

Amol S Joglekar (Expert)
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25 August 2016 So Sorry, i am from Pune, at present at Bengaluru

Mahesh Vankhede

Mahesh Vankhede (Querist)
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27 August 2016 Do you know any good CA in Thane

Amol S Joglekar

Amol S Joglekar (Expert)
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27 August 2016 not exactly Thane, but we have presence at CBD Belapur. If you want I can give you the details.

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