Cash loan to mother or father
This query is : Resolved
12 November 2016
Yes u can give cash loan to ur relatives.
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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.
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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.
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