Hi,
My relative has requested for some white money for his property that he is buying.
I am a salaried employee with a clean tax history. He is a close relative so it is getting difficult for me to say No. But I have made clear to him that I need only white money in return which he can return at his pace/ whenever the white money is available at his end.
Please guide me on the best way to execute this transaction. Is loan a good way ? Should I get the loan agreement done for this ?
What is the best way to get the money back ?
Is there any legal liability that I may get into even if I execute it as per guidelines by IT department, if there are any ?
CAclubindia
