Deposit of 500/1000

Sir,

Its your money and from a valid source.

There is no point of rejecting it reciept.

Accept it, deposit in your account and if and when asked for its source, explain and justify your claim.

Thanks

Originally posted by : Shivangi Garg
	Sir, Its your money and from a valid source. There is no point of rejecting it reciept. Accept it, deposit in your account and if and when asked for its source, explain and justify your claim. Thanks

From 8th November cuurency has no legality therefore It should not be accepted.

Further your uncle should deposit in their bank account and if any inquiry approach by Revenue dept. ,then he can give your name that as unsecured loan...  

Bharghav Sir,

I agree with your reply.

but the borrower is denying repayment (either he'll pay in old currency or won't pay) in such case the lender does not have any other option. he can't let go his money.

plz suggest..

I am seeing daily  some new new news is coming up.  I am worried since i am in the 30% slab and if they treated this as hoarding, i have to pay 2,10,000/- as IT + 4,20,000/- as Penalty and another Rs.18600/- as surcharge for the whole amount, leaving  around 50,000/- . Under this circumstances,   your valued suggestions are solicited.