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.
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