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?
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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SMJ global advisors pvt ltd
New Delhi
B.Com
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CAclubindia
