hi.. frds..
"father given 50,000 to his son as hand loan without any interset. as per income tax cash loan shouldnot exceeds 20,000.
here amount exceeds 50000. in my mind i have two options, 1st option treating hand loan showing in balance sheet.
2nd option treating it as gift given by father and brother. pls help me anyone, what to do in this type situation.
CAclubindia
