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Unsecured loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 May 2013 A person is having his PROPRIETORSHIP FIRM.his FATHER wants to give unsecured loan to him for business use.pls tell me dat can his father giv loan to his firm directly or he has to give loan to his son?
Means in his fathers bal. sheet the loan will appear in the personal name of his son or in the name of his firm?
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
22 June 2013 The father can given direct loan to the firm of his son and in the balance sheet of father the loan can appear in the name of the firm
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