Cash loan to mother or father
This query is : Resolved
12 November 2016
Yes u can give cash loan to ur relatives.
Message likes :
1 times
12 November 2016
IS THERE ANY LIMIT ?
I WANT GIVE LOAN RS, 4 LAKH IN CASH TO MY MOTHER
I WANT GIVE LOAN RS, 4 LAKH IN CASH TO MY MOTHER
12 November 2016
There is no limit mentioned as such. But the loan must b in professional conduct. In simple words, there must not b cascading of tax behind that loan. And if it is loan term, then interest should b provided and TDS provision will get attracted.
Message likes :
1 times
12 November 2016
SECTION 269SS
LIMIT OF RS . 20000
WILL APLY OR NOT IN CASH LOAN TO PARENTS ?
LIMIT OF RS . 20000
WILL APLY OR NOT IN CASH LOAN TO PARENTS ?
12 November 2016
U can't advance loan amount in cash. U must have to involve Bank in advancing the loan amount.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
