Can I take loan from my relative?
This query is : Resolved
21 November 2019
I am a partner of a partnership firm. Can I take loan from my relative (other than father, mother, brother, sister & wife)?, then I invest in my partnership firm as a capital is it possible??? please advice me??
21 November 2019
Yes from relatives defined under income tax.
24 November 2019
Thank you sir. I want to know, as per income Tax rule "son of father's sister" is relative ??
24 November 2019
Not a relative........
24 November 2019
Thank you , But I have already received some amount from him(more than 2 lakhs) this year, now further I want to receive more amount for my partnership business through my account. Then any problem (in point of IT act.)??
24 November 2019
Take the amount through father's sister.
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