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Taking repayment of loan and giving back as gift between brother and sister

deepak (Job) (31 Points)

14 April 2016

I would like to know, Is this advisable to take repayment of loan back through cheque and again giving the same as gift between brother and sister

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2 Replies

Shubham Gupta (Business Consultants) (2077 Points)
Replied 14 April 2016

i would recomend to give some good time between both the transaction , then this working can be good

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deepak (Job) (31 Points)
Replied 15 April 2016

Thanks Mr. Subham.

Actually my mom has given a sum to her brother five year back and meanwhile he has paid in cash to my mom and my uncle (Mama) wants to give back a cheque and again wants to take back as gift.

Aa advised, there should be good time between transaction and my uncle does not want to keep money for long time and wants to take back gift in some couple of days.

What could be another solution. I don't wish to see any of them trapped in section 269ss.

Thanks.