269SS & 269 T
This query is : Resolved
13 November 2009
Hi.. All...
I have a small doubt, need clarification.. If a Pvt Ltd company gives loans (advance) to employees in cash for more than Rs. 20,000/- (say 50,000). Is 269 SS / 269 T is applicable to company while giving / receiving back the loans (advance)?? pls do the needful. regards
I have a small doubt, need clarification.. If a Pvt Ltd company gives loans (advance) to employees in cash for more than Rs. 20,000/- (say 50,000). Is 269 SS / 269 T is applicable to company while giving / receiving back the loans (advance)?? pls do the needful. regards
13 November 2009
section 269ss & 269T applicable only when company accept and repaid such loans in cash and not for if company gives to loans to employees.
13 November 2009
SEC 269 SS IS applicable only when the company accepts any loan ,and 269 t is applicable only when the already accepted loan is repaid by the company,in the above case company never accepts nor does it repay.
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