Gift vs loan

This query is : Resolved 

20 September 2013 If a person accepting amount of rs.35000/- by cheque from the relative as a gift for reducing cash negativity instead of treating it as a loan ....whether this practice is valid in the income tax act or not

20 September 2013 Yes ankita ..i don’t think there should be a problem…

You can just make a gift deed for the same

20 September 2013 ok thanks




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