What is the policy of taking a loan from non relative
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 December 2011
What is the policy of taking a loan from non relative for buying a home?
How to pay it back means cash or cheque?
Can it be paid immediately or not? if yes, would there be a possibility of income tax scrutiny?
Please reply ASAP
How to pay it back means cash or cheque?
Can it be paid immediately or not? if yes, would there be a possibility of income tax scrutiny?
Please reply ASAP
15 December 2011
YOU CAN TAKE LOAN FROM NON RELATIVE FOR BUYING A HOME BUT YOU WILL NOT GET ANY TAX BENEFIT IN SUCH CASE.YOU CAN AVAIL BENEFIT UNDER SECTION 80C AND 24 ONLY IF YOU TAKE LOAN FROM ANY FINANCIAL INSTITUTION.IF YOU WANT TO PAY HOME LOAN TAKEN FROM NON RELATIVE YOU MUST PAY IT BY CHEQUE.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- Taxable or Tax exempt
- ADVANCE PAYMENT OF ADVOCATE
- TDS Deducted AY-2013-14 Not Reflected in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- NRI starting business in India
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- TDS Return Q1 FY 2026-27
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
