Hello Sir,
My wife wants to borrow money (8 LAKHS interest free) form her mother, mother in law and from me through cheque , to settle the amount to family members for releasing one part of their legal heirs property (vacant plot).
She is also a tax payer. Please advise me how to borrow money
(through demand promissory note), to avoid any income tax problem. And also she agree to repay the amount in future.
Regards
venkatesh