28 December 2016
We decided to take unsecured loan from a business concern. What are the documents to be kept by us to prove that it is not our income but only a loan(for the income tax purpose) ? Whether loan agreement is required.if yes what are the steps for the agreement drafting ?
28 December 2016
For Income Tax Purpose: Obtain Loan Confirmation from the concern from whom the UL has been taken. Agreement is not mandatory. (Not recommended too)
CAclubindia
