banner_ad

Cash loan from friends

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
26 March 2012 Hi,

What are the rules and regulations if i am taking cash loan of Rs.40000/- from a friend.

Also, if i make payment of Rs. 200000/-towards purchase of property in cash after withdrawing money from my account, what are the issues.

Kindly reply.

rgds,
Gagag
Profile Image

CA. Hari Kishan

Profile Image

CA. Hari Kishan (Expert)
26 March 2012 as to accepting of loan in cash from a friend in excess of Rs.20000 shall be liable for action under section 269SS & 269T.

Same may apply to the purchase of property in cash.. however this is towards asset purchase and shall be allowed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details