269ss
This query is : Resolved
25 August 2016
in AY 2013-14 one of my client accepted loan of Rs.11 Lakhs through bank to bank online transfer but the contention of AO is that u should accept loans through A/C PAYEE CHEQUE OR DD. He said that the amendment in section 269 SS came in June 2015 in which u can accept loan through bank to bank online transfer.
In this scenario what should be our contention.
In this scenario what should be our contention.
25 August 2016
Dear user,
If you have given loan from bank account it's does not voilate any provison practically.
First try to convince your AO as bank to bank transfer is also correct.
If he denies then go for appeal as u will surely win it
Kindly like if my response has helped you
If you have given loan from bank account it's does not voilate any provison practically.
First try to convince your AO as bank to bank transfer is also correct.
If he denies then go for appeal as u will surely win it
Kindly like if my response has helped you
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- Error in uploading Form 10BD
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Grand in aid
- Loss of interest in PF transfer from EPFO to Trust
- NRI INSURANCE ADVISOR
- Banking Related Issue
- Residential status of non resident
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
