14 September 2013
2nd proviso to section 269T states that provision of section 269T doesnt apply to any loan or deposit accepted "FROM" govt., govt. co., corporation established under Central/State or Provincial Act etc. Does it mean provision of section 269T is applicable to govt., govt co., corporation and insitution as may be notified by central govt., if loan/deposit is accepted "BY" them.
14 September 2013
Dear Jayesh, Yes. Provisions of sec 269T are applicable to Government companies as well. But in reality if we see the repayment made by Govt. institutions, they pay only through banking modes.
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