Applicability of Sec 269SS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 December 2010
A partnership firm engaged in shrof finance business & get licence also.If firm accept Rs 100000 in cash from customer to isssue Demand draft/ cheque and in turn the firm get commission.
querry is whether provision of Sec 269ss of Income tax applicable. pl comment.
querry is whether provision of Sec 269ss of Income tax applicable. pl comment.
16 December 2010
Any Amount Received as a Loan/Advance Will Be Treated U/s 269SS.
In UR Case If Amt Received & Not Hold I Mean Immidiatelly Made Draft Then 269SS Not Applicable.
In UR Case If Amt Received & Not Hold I Mean Immidiatelly Made Draft Then 269SS Not Applicable.
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