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Can unsecured loan be cleared by taking gift deed from family members
17-Jan-2023 (In Recovery Law)
I am sole proprietor and i have taken unsecured loans from family members since long time and i want to clear that unsecured loan through gift deeds. please answer the following questions related to the statement mentioned above 1)Is it possible to clear that loan amount by taking gift deeds from them ? 2)what are the tax implications on gift deed amount ? 3)is it necessary to get register the gift deeds ? 4) will there be any further complication from IT department ? also mention the precaution to take
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Adv. Syed Yakoob Zainulabedin
Adv. Syed Yakoob Zainulabedin
Hyderabad | 5+ Answers
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