269SS & 269 T

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saida (Querist)

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

hshivakumar

hshivakumar (Expert)

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.

vishnu prasad prabhu

vishnu prasad prabhu (Expert)

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.

saida

saida (Querist)

13 November 2009 Thank u very much Mr.Shiva and Mr. Vishnu

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