Form 3CD
This query is : Resolved
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
Radheyshyam Falod
(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.
Therefore there is exemption if loans are taken from banks and financail institutions but not to NBFCs
Therefore there is exemption if loans are taken from banks and financail institutions but not to NBFCs
Manmohan ACA, CS
(Expert)
06 June 2009
answered
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