Anyone can please answer this?
Hi,
My question is related to some large transactions.
In July 2017, I gave loan to one of my relative and transferred that amount to his account. In November 2017 while applying for PNP that amount is transferred back to my account.
I am transferring my Provident fund amount in that account too, which will be explained in LOE.
Now my question is related with that transaction (loan transaction given to relative around 4,00,000). Do I need to write any kind of LOE for that too? If so, will it be fine if I write it as a loan and then get it back?
Thanks,
Hi,
My question is related to some large transactions.
In July 2017, I gave loan to one of my relative and transferred that amount to his account. In November 2017 while applying for PNP that amount is transferred back to my account.
I am transferring my Provident fund amount in that account too, which will be explained in LOE.
Now my question is related with that transaction (loan transaction given to relative around 4,00,000). Do I need to write any kind of LOE for that too? If so, will it be fine if I write it as a loan and then get it back?
Thanks,