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Cash received from managing director

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(Querist)
14 June 2012
Dear sir,
Can a company received cash from his managing director , if yes what will show in account , as a loan or other
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
14 June 2012 Section 269SS of the Income Tax Act prohibits accepting loans in cash in excess of Rs. 20,000.

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