Unsecured loan in case death of lender
This query is : Open
12 July 2021
Section 269T provides that any loan or deposit shall not be paid by any person otherwise than by an account payee cheque or account payee bank draft
if a lender given loan to a person but due to death of lender (loan given party). could his loan amount transferred to in the name of his son through journal entry in the books of account of borrower party..
if a lender given loan to a person but due to death of lender (loan given party). could his loan amount transferred to in the name of his son through journal entry in the books of account of borrower party..
12 July 2021
Yes same would be transferred in the name of his legal heir by way of book entry.
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