Cash loan above rupees 20000/-
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 December 2011
can anyone person give loan to another person in cash more than Rupees Twenty Thousand only, if yes, then tell me in what circumstances he can give loan more than 20000/- if not, please give reply in detail.
Aditya Maheshwari
(Expert)
30 December 2011
One person can give but penal provisions of section 269SS & 269T would accrue in the hands of the other person accepting the loan.
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