Dear Jay, greed can be the cause of financial mistakes. If you trust this person and the purpose of the loan is real, you can take an interest in it. It is recommended to take and keep postal cheques with you for the monthly payment and the main payment. Yes, bond paper can be valid, but are you ready to fight a dispute in the event of a problem? Dear Karthik, thank you for the answer. We are worried about having to pay taxes if my friend transferred money to my account. And what type of the latter will help us PN or credit agreement? Hello Sir, I would like to lend 2 lakes to the interest of my friends newly created partnership company. What conditions should I mention in the credit agreement? Is the partner`s liability for delay unlimited? Dear Karthick, it also depends on the terms and conditions mentioned in the note. Has the loan been renewed? I paid a certain amount of money to one of the immigration companies to get a job abroad, but it takes too long and I just wanted to be safe by making a written agreement. So ask me to advise me with the same. Hello Srikanth, This is a very informative article. I have a question: I took 23 L of mortgage from a bank.
Now, a friend of ours tells us that he can lend us money to make this loan, and we have to repay it without interest. As a Muslim, he does not like to earn or spend on interest. So, if we lend it, what could be fiscal and how can we save taxes? Because we don`t let him get into trouble with taxes and the same for us. He has a savings account from which he can lend UA via RTGS or check. Greetings, What is the power of a stamp agreement when buying land. I plan to buy land in an EMI-based company for two years with a fixed deposit. The plot partner says he wrote a deal for the same. My question of doubt is how powerful the agreement is. A great blog you have, such a valuable source of information for many of us. I hope you will kindly clarify the following question on my part. I lent 5 lakhs to a relative in 2014. As there was no refund, I led him to issue a handwritten PR (with 2 witnesses) in 2016, although it was written as of 2014.
Now I am warned that I will sue him, but he defies me and says that he would plead that he has already reimbursed it and that the PR I have is a fake. My concerns are my own; 1) Is it safe for me to assure the court that the PR was written itself in 2014? Is there a way to prove otherwise? 2) Is he tried if he claims to have already reimbursed him? He will certainly have no evidence to back up his lie.