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Form 3CD

This query is : Resolved 
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(Querist)
06 June 2009 Is it necessary to disclose in form 3CD when a loan is received for Rs.2,50,000/- towards vehicle loans from any nationalised bank or from NBFC
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Late CA Sampat Jain

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Late CA Sampat Jain (Expert)
06 June 2009 3CD requires disclosures in respect of loans recd in cash exceeding 20,000/-
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
06 June 2009 Clause 24(a(v) and 24(b)(iv) needs disclosure of the mode of acceptance/repayment of the loan or deposit. Therefore , particulars of all loans/deposits exceeding the limit whether accepted/repaid in cash or otherwise need to be disclosed.Exception to disclosure for 269 SS are to banking company,govt company or a corporation established by central,state or provincial Act.
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Radheyshyam Falod

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Radheyshyam Falod (Expert)
06 June 2009 Yes Chackrapani Warrier is right.. Banks and financial institutions are exempt.. But there is no such exemption to NBFC
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
06 June 2009 agree only Banks and financial institutions are exempt
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