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Huge amount cash loans for visa purpose sec 68,69 applicable

This query is : Resolved 
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(Querist)
29 November 2023 Sir,
It assessess cash loans from different persons each person rs:19000/- total amount rs:15 lacs for daughter visa purpose.
Question:
1.huge amount from different persons sec 68 ,69 applicable
2.cash loans interest payments compulsory.
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
15 January 2024 Section 68 addresses unexplained cash deposits and investments, with Section 69 addressing penalties. As you have accepted cash loans, Section 68 is relevant. However, you must calculate interest on cash loans.
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