Advances in cash
This query is : Resolved
20 December 2016
Sir, Can u please Tell me that Whether Advances or Loan Paid in Cash more than 20000/- by Other Than Company is allowed or not or Whether it comes in the ambit of any section.
That in Section 40(A)(3) it is for Expenditure
269SS is for Loan or deposit Taken or Accepted
269T is for Repayment of Loan or Deposit Taken or Accepted
Thus i cant find anything about loan given, please Let me Know that whether Loan Given more than 20000 in cash is allowed or not ? (Assessee is Other Than Company)
That in Section 40(A)(3) it is for Expenditure
269SS is for Loan or deposit Taken or Accepted
269T is for Repayment of Loan or Deposit Taken or Accepted
Thus i cant find anything about loan given, please Let me Know that whether Loan Given more than 20000 in cash is allowed or not ? (Assessee is Other Than Company)
21 December 2016
No, cash Loan more than 20K is not allowed to any assessee, whether Company or any other.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- SFT Cash Deposit in Current Account
- Annual return in Gst
- When TDS on GST applied
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
