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Income Tax Section 269SS and 269T

This query is : Resolved 
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(Querist)
28 August 2009 Reporting Requirements U/S 269SS and 269T in Form 3CD

When assessee accepted loan from private co-operative Bank (OD Account)

Example Transactions:
01-04-2008 Loan Accepted by cash Rs. 1,00,000/-
30-09-2008 Interest Credited to Loan A/c Rs 7,000/-
30-09-2008 Loan Repaid by cash Rs 25,000/-
01-01-2009 Loan Accepted by cash Rs 50,000/-
31-03-2009 Loan Repaid by cash Rs 50,000/-



What is the amount of Loan Accepted to be reported U/S 269SS ?

What is the amount of Loan Repaid to be reported U/S 269T ?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
28 August 2009 Provisions of Section 269SS & 269T are not applicable to a banking company and hence the same will not be included in the loan statement. Clause 24 specifically mentions that the same is not covered.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
28 August 2009 Provisions of Section 269SS & 269T are not applicable to a banking company and hence the same will not be included in the loan statement. Clause 24 specifically mentions that the same is not covered.
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