269ss and 269t
This query is : Resolved
mukesh Kumar
(Querist)
16 July 2013
OUR CLIENT IS PARTNERSHIP FIRM.........
FIRM HAS TAKEN LOAN FROM DIFFERENT PERSON FOR RS. 20,000/- OR LESS FROM DIFFERENT PERSONS. FIRM TAKEN SAME LOAN FROM MANY PERSONS AND NOW IT WANT TO PAY THESE LOANS IN CASH.
IS IT POSSIBLE FOR FIRM TO PAY THESE IN CASH UNDER SEC. 269T..........
2. FIRM HAS GIVEN LOAN TO OTHERS ALSO OF MORE THEN RS. 20,000 BY ACCOUNT PAYEE CHEQUE.
AS AN AUDITOR IS THESE IS NEED TO REPORT THIS LOAN GIVEN BY FIRM TO OTHER UNDER AUDIT REPORT.
FIRM HAS TAKEN LOAN FROM DIFFERENT PERSON FOR RS. 20,000/- OR LESS FROM DIFFERENT PERSONS. FIRM TAKEN SAME LOAN FROM MANY PERSONS AND NOW IT WANT TO PAY THESE LOANS IN CASH.
IS IT POSSIBLE FOR FIRM TO PAY THESE IN CASH UNDER SEC. 269T..........
2. FIRM HAS GIVEN LOAN TO OTHERS ALSO OF MORE THEN RS. 20,000 BY ACCOUNT PAYEE CHEQUE.
AS AN AUDITOR IS THESE IS NEED TO REPORT THIS LOAN GIVEN BY FIRM TO OTHER UNDER AUDIT REPORT.
16 July 2013
Sec 269SS and 269T is attracted only if loan is given or paid in cash for an amount exceeding Rs.20,000.
mukesh Kumar
(Querist)
16 July 2013
please explain your answer........
19 April 2017
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