02 March 2012
I want to give 10 lac amount of my saving to my wife to start business of broking. If i gift her this amount, income from her business will be clubbed in my income... Other way is to give her a loan through cheque and charge the interest rate same or bit more as per bank fix deposit rate.... Please suggest me what to do and what will be the process to loan her the amount, what documents (i.e. stamp paper or any other)would be required to be signed by her & by which transaction stays under the income tax law....
03 March 2012
Thank you experts for the prompt reply.. If i issue a account payee crossed cheque other than that Kindly suggest whether any stamp paper or document to be signed by me or my wife for this transaction...
13 March 2012
Thank you experts, Please tell me how do i make an loan agreement for this transaction what stamp paper do i need to buy and what deed(deed example or language) to be mention on the stamp paper.... Please help
CAclubindia
