Benami transaction act
Nitish Agrawal (CA) (810 Points)
25 February 2017
Does puchasing property out of funds taken as unsecured loans (from Brother) amounts to benami transaction
6 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177726 Points)
Replied 26 February 2017
No, provided purchased in own name.
sidhigiri
(Ipcc)
(236 Points)
Replied 07 June 2018
if purchased of property through gift received from relatives is covered under benami act?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177726 Points)
Replied 07 June 2018
No, provided the gifted property was not 'benami' earlier.......
sidhigiri
(Ipcc)
(236 Points)
Replied 07 June 2018
sir it is necessary to make loan agreement in case of loan received from relatives through banking channel...
sidhigiri
(Ipcc)
(236 Points)
Replied 07 June 2018
sir it is necessary to make loan agreement in case of loan received from relatives through banking channel...
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177726 Points)
Replied 07 June 2018
Department requires loan confirmation, be it loan agreement or just confirmation letter.
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