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Yogi Zone

Useful articles for your finance management by our team of experts

mode of taking loan from relative

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Q. I plan to take a loan of Rs. 5 lakhs from a relative of mine. How should I take this loan – through Cash or Account Payee cheque?

Answer: It is preferable that you take the loan through Account Payee cheques and show this as a loan in your IT returns and books of accounts.

Warm Regards,

Shweta, Certified Financial Planner,

Expert @ InvestmentYogi

 

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