Want to give money to daughter with proof

kunalpujari@yahoo.co.in (Querist) 28 April 2014 This query is : Resolved
Sir/ madam,
My good friend had given 5 lac to daughter and son in law in 2007 to start business on daughter's request but there was no proof. Now again daughter is asking for 4 lac. He is ready to give but what legal documents to be made before giving so that there is a proof he had given so and so money to them.
Pls reply

Follow Query

Report Abuse

ajay sethi (Expert) 28 April 2014
is he giving money as gift or as loan ?

he can obtain letter from daughter and son in law wherein they thank the father for having advanced sum of rs 5 lakhs in past and requesting for another loan of Rs 4 lakhs . the letter should mention when loan would be repaid .

Rajendra K Goyal (Expert) 29 April 2014
The money should be paid through Banking channel preferably by cheque. The cheque should be acknowledged by them on the covering letter which should mention that the money is given as per their request to be repaid in 1-2 years or earlier.

Kumar Doab (Expert) 29 April 2014
Agreed with Mr. Sethi and Mr. Goyal that you should obtain a communication acknowledging past loan, current loan and pledge to pay back with interest......................within dated............. and amount should be paid by banking channel.

Advocate Bhartesh goyal (Expert) 29 April 2014
Agreed with experts.

V R SHROFF (Expert) 29 April 2014
GET RECEIPT OF 5 lAKH C PRO NOTE/ PDC
[as u need to declare IT Returns to be fled by you.
Prepare papers for 4l loan
As I gather, u do

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now