Doesn`t the banker/your mother have the possibility to mail the copy of the contract, you sign it and let her complete the remaining formality? Just ask! 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? Dear Kartika. It depends on the conditions set out in the agreement. Has this clause been included in the agreement that you must recover the advances if the buyer is unable to purchase the property? Hello, thank you for this beautiful article. I have a question My friend and brother-in-law desperately need money and my brother-in-law friends have their own house, but unfortunately no bank is willing to give them a mortgage because they have not filed a pay slip or income tax return. I want to help him by granting a loan of 15 Lakhs, taking a personal loan from my account, since I have complete documents. However, I don`t want to take a risk in the future, hence my questions: 1. Can I give them a loan with their asset documents as collateral? 2. What deals I should go with them. 3. Please let me know what documents they need to retrieve or sign. Mr Reddy, I would like to ask for a personal credit case in which I granted interest to a known person 10 rupees in the form of a loan, I received from him a cheque for the same amount and I signed a stam document that mentions the interest rate and the duration of one year for the contract.
No indication is given as to what will happen at the end of the period, nor on the penalties or clauses relating to the non-repayment of capital and interest. the person had paid me regular interest the first year and also the 2nd year with restitution of 5 Lakh Pricipal. But now he has not paid interest or capital for two years, because his financial situation is bad. the cheque he has given is staggered and no conditions for repayment of gifts and penates on stamp paper are mentioned. I can go pending and ask him to take an interest, and if he denies, I can talk about it legally. Hello Sir, I am taking a loan (interest-free loan) of Rs 5 Lakhs from my sister for the purchase of house. Is it advisable to make a credit agreement to avoid tax repercussions on me or my sister? Please note A credit agreement is a contract between a borrower and a lender that regulates the mutual commitments of each party. There are many types of credit agreements, including « facilities », « revolvers », « fixed-term loans », « working capital loans ». Credit agreements are documented by a compilation of the various mutual commitments of the parties.
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