there is a unsecured loan in books from a related pvt co from 2009-10 & want to be nill in 2012-13 by cash payment in instaalment of 20000 on different dates, it is corect or there is any dificulties as per inome tax act.
Raj Kumar (Student) (28 Points)
08 July 2013there is a unsecured loan in books from a related pvt co from 2009-10 & want to be nill in 2012-13 by cash payment in instaalment of 20000 on different dates, it is corect or there is any dificulties as per inome tax act.
Ayushi Agarwal
(Article)
(161 Points)
Replied 08 July 2013
once the amt of loan exceeds rs.20000 u can't repay it in cash...
CAclubindia
