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Are loan and gift deeds are mandatory

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Are loan and gift deeds are mandatory

Last updated: January 3 2019
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  • Are loan and gift deeds are mandatory

    Hi

    i have bought a flat. here i have capital of 20% of my own and 30% i will take gift from my parents 20% loan from my brothers(blood relation interest free) and rest of amount is bank loan, here i want to know that if all the transfers are in white for 100% by checque or RTGS only then is it neccesary to make loan deed of brother and gift deed of parents.

    i means all are account to account transfers then also i need to prove anything here or not?

    Does it effect these in my income tax?

    Thanks
    Last edited December 25 2018, 08:12 AM.
  • #2

    #2

    Re : Are loan and gift deeds are mandatory

    No you dont need to prove that.

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