27 October 2015
I have doubt regarding the provision as per 269ss that "Provided further that provisions of this section shall not apply to any loan or deposit where the person from whom the loan or deposit is taken or accepted and the person by whom the loan or deposit is taken or accepted are both having agricultural income and none of them has any income chargeable to tax under the income tax act" that is whether it is applicable to persons having agriculture income only , whether it is applicable to persons having income not chargable to tax only
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