Huge amount cash loans for visa purpose sec 68,69 applicable
This query is : Resolved
Kollipara Sundaraiah
(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.
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.
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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