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269ss and 269t

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(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.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
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.
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mukesh Kumar

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mukesh Kumar (Querist)
16 July 2013 please explain your answer........
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CA LOKESH KASAT, FCA, M.Com

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CA LOKESH KASAT, FCA, M.Com (Expert)
19 April 2017 Very old Query need to be closed now
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