Dear Karthik, thank you for the answer. We are concerned about whether we should pay all taxes if my friend transfers money to my account. And for the latter, what will help us the PN or the credit contract? Dear Sandeep, with regard to stamp duty, which sets the amounts and one must consult the relevant stamp rates of the state in which the document is executed. Stamp duty varies depending on the length of the loan, as well as quantum and type of loan. Dear Sreejith, 1 — I think it`s normal to write a PN on the loan that has already been taken from you. Also, you can take the help of witnesses. 2 – Everything and everything can be challenged in our court. But he has to prove/justify his point of view. Offer to consult a civil lawyer and seek advice.
Dear Sir, my mother had granted cash loans to the known person. The loans were made in good faith and with the assurance that they will be repaid when necessary and with interest. However, the insurance turned out to be a big lie and the person started to avoid all our calls. We got blank cheques signed by her and we too got to sign it on the change of sola. We also have a photocopy of their real estate document. These are the only documents we have. Now, even after repeated requests, this person dodges the payments and there is no indication that the money is returned. This causes great psychological torment for us within our family and has forced us to have a strained relationship with my mother, who is 65 years old and who has affected her mental and physical health. I worry about losing my mother because of this tension.
In addition, I learned that he had threatened to declare himself a loser in the run-up to the court. This statement from him stifled our hopes of getting the money back from him. Please help us and advise yourself. In the agreement, we mentioned that if he did not purchase the property in the contract date, “does not return the money and the contract is treated as a termination.” This document can be used to record the terms of a loan between persons or companies established in India. Loans made by a foreign lender to an Indian borrower are covered by the Foreign Exchange Management Act of 1999 and the rules and regulations adopted there, and this document has not been adapted to be used for a loan from a foreign lender to an Indian company. In the event of non-fulfilment of the PGI indicated in favour of the lender or making payments due from the funds received from the borrower in the following order: (i) fees, costs, expenses and other funds incurred by the borrower in obtaining the payments due. (ii) late commissions and penalties, if the lender (iii) interest, if any, is due in the form of the loan agreement. (iv) principle payable and payable.
Mr. Rmahesh, how are you going to justify this to the IT department? They took a loan home, but did not use the amount for use mentioned. If you took it for construction, your banker will be able to check the status of the house, right? Can I find out how you`re going to do it? Similarly, the income returned to you can be considered “income from other sources.”