So I took a 10 lac rupees gift from my sister in 2016 by executing an unregistered gift deed and reported in income tax accordingly.
Now I need to pay her back and since I have income tax problems demand in appeal.
Can I convert that gift deed back into loan and pay her back the loan?
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
