Dear Sir
i owned a flat ( registered on my name ) buyed in 2005 by Housing Loan by myself +self funds + 12 laks borrowed by Brother ( in Cash ). As he has helped me while these purchase. Now i wish to repay ( 35 laks) him as he is planning to buy home for himself. for this i have taken a modguage loan 35 laks & pay him by cheque from my account. please guide me so this transaction should not arise the Income Tax to myself nor my Brother. please suggest how to proceed.... thanks & regards
