Easy Office
LCI Learning

Can a person take loan from different persons in cash exceed

This query is : Resolved 
Profile Image

Profile Image

(Querist)
12 January 2016 Hello
We know that a person can not take loan in cash exceeding 20,000 from a person . But is it possible to take loan, say Rs. 19000 from 5 individuals. Will it violate section provisions of IT Act

Thanks
Profile Image

CA Shyam Agarwal

Profile Image

CA Shyam Agarwal (Expert)
12 January 2016 You can accept less then 20000/- from different person without violation of Sec 269
Profile Image

SANYAM ARORA

Profile Image

SANYAM ARORA (Expert)
13 January 2016 No violation go ahead




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links