Recovery of payment from relative

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 April 2013 Dear Sir

My Father give Rs-500000.00 by A/c payee cheque to a relative in 2008-2009. My father has been expired on 12,december,2009.Above give interest only for 2008-2009.after this period he doesn't give interest or principal amount. I have givee 15G every year for non deduction of TDS. above relative is not asking 15G for F.Y 2012-2013. Now I want to know that may I release my payment with interest from relative with legal way or not.

Please guide me to recover my money .

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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28 May 2013 Since the original loan was given before 3 years and neither any repayment nor any confirmation has been signed by the loanee it is barred by limitation. This is the position as per law. Now, you pursue the matter and try to recover the money. Send registered A/D letters and if required file police case I think he will do it.