Get a money from NRI relative as a loan

mehul (abc) (31 Points)

11 April 2009  

My sister lives in USA and i need to transfer 50000$ from her as a loan for 5 years to invest in my business.

Is there any way to bring that money in to my account in india?

Will it be consider taxable as a gift or as a loan?

Do i need to Get FIRC from bank and/or Do i need to do some agreement paperwork with my sister?