Hi - One of my friend transfered 1 crore INR to my bank account from his Bank accounts since he has taken loan from us since last 10 years (in increment of 10 lakhs per year in cash), now since he has transferred i want to make this legal document and ensure this is registered in some form and ensure he does not file recovery suit later claiming i have to pay him money later, is there anyway we need to register this in form of some deed? what would be tax we would need to pay for registering the 1 crore?
