Income tax query
This query is : Resolved
ashish singh chouhan
(Querist)
18 November 2011
How much unsecured loan can take without any restriction of income tax act
CA Navin Jain
(Expert)
18 November 2011
there is no limit in income tax cat. you need to received the loan through a/c payee cheque.
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18 November 2011
unsecured loan less than value of Rs. 20000 can be taken without any restriction in cash....otherwise sec 269SS will be applicable...but there is no restriction on unsecured loan by account payee cheque/draft..
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