14 November 2012
The following precaution is to be taken 1) The loan giver is not a criminal 2) The loan is not out of borrowed funds of the loaner 3) Loaner should be a Income Tax Payee 4) Take the copy of PAN Card 5) Keep the photo copy of the cheque 6) After taking the loan keep the photo copy of I T Return and Balance Sheet etc.
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