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17 May 2012 Can a Individual with normal income of Rs 4,00,000/- accept cash loan or can give cash loan of more than 20000/- rs to other person. Do sec 269ss and 269T is applicable to all individuals. If not loan, can it be given as advance in cash...
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
17 May 2012 Section 269SS and Section 269T are applicable to ALL ASSESSEES.

Accordingly in this case, cash loan/repayment in excess of Rs. 20,000 is not possible.
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