How to transfer the Money to Account
This query is : Open
28 October 2017
Hi,
Actually my friend planning to construct the house, But he could not get the loan from Bank. So, he decided to take the loan from his uncle and can pay EMI to him on behalf of his uncle, as his uncle has taken personal loan for him. So, now the real game starts, how his uncle can transfer the money to him. By withdrawal daily or any other mode? Because of GST the daily limit.Please suggest is there any other easy way.
29 October 2017
No daily limit of account transfer in case of loan.
29 October 2017
Thank you so much sir..
So he can take Loan from his uncle, the one has applied in the name of his uncle
29 October 2017
But as per new rule by IT act under 269ST new restrictions on cash receipts of ₹2lakh..may impose a penalty of 100% incase of violation
29 October 2017
Yes he can take loan from uncle.
29 October 2017
Once again Thank you sir..Is there will be any impact on his Uncle under section 269SS
29 October 2017
No impact if payment through bank.
29 October 2017
Thanks a lot sir..
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