Cash transaction
This query is : Resolved
08 December 2012
DEAR READER,
I WANT TO KNOW THAT CAN A COMPANY MAKE A CASH TRANSACTION WITH DIRECTORS AS LOAN.
I WANT TO KNOW THAT ; IS THAT SIMILAR TREATMENT AS A CASH PAYMENT ?
PLEASE NEED GOOD ANSWER.
REGARDS:
RAKESH
I WANT TO KNOW THAT CAN A COMPANY MAKE A CASH TRANSACTION WITH DIRECTORS AS LOAN.
I WANT TO KNOW THAT ; IS THAT SIMILAR TREATMENT AS A CASH PAYMENT ?
PLEASE NEED GOOD ANSWER.
REGARDS:
RAKESH
08 December 2012
Sec 269SS and 269T will be applicable in case of loan or deposit taken or repaid thru otherwise then by A/c payees cheq above rs 20000/-.
08 December 2012
THEN IT MUST BE DISALLOWED......
08 December 2012
For more Details follow link:-
https://www.caclubindia.com/forum/analysis-of-section-269ss-and-269t-230448.asp#.UMMUIlJK31U
https://www.caclubindia.com/forum/analysis-of-section-269ss-and-269t-230448.asp#.UMMUIlJK31U
08 December 2012
DAT I KNW BT I JUS WANT TO KNW DAT CAN DIRECTOR & COMPANY MAKE TRANSACTION IN CASH MODE ?
08 December 2012
They can enter into cash transactions with each other. However, borrowing and repayment of loan BY the company in cash will attract penalty equal to the amount of loan borrowed or repaid, as the case may be.
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