Promissory note for loan from mother

N Krishna (Querist) 02 September 2017 This query is : Resolved
I am planning to take loan from my Mom for buying an apartment. i want to make it legal as I want to claim tax on interest paid under section 24. I understand i need to make a promissory note. My question is
1. Should the promissory note be made on a stamp paper ?
2. Does it need a signature from Notary ?

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R.K Nanda (Expert) 02 September 2017
1.no.
2. printed forms of pronote are available in market.

3.it does not need signature of notary.

4. affix revenue stamps on it.