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Loan to father

This query is : Resolved 

11 February 2021 I am an Nri.
I gave a loan to my father in INR through bank transfer which he imvested in share trading. He will be paying interest at 14 % to me by bank transfer.
Is an agreement needed for this loan for income tax purposes?
If so is agreement in paper enough?
Should it be registered?

28 September 2021 Yes, a confirmation of loan with details like amount, date etc. on plain paper, signed by both of you need to be kept handy.



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