Easy Office
LCI Learning

Interest received in cash on loan given

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
12 April 2013 One of our client have received Rs. 18,000/- interest in cash on loan given. The Loan amount is Rs. 1,80,000/- which was given through account payee cheque. Is section 269SS or 269T will apply ?
Profile Image

S Sivasalapathy

Profile Image

S Sivasalapathy (Expert)
12 April 2013 Sec 269 relates to acceptance & repayment of loan. And the amount is bellow Rs. 20,000/-, Sec 269 not applicable.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
15 April 2013 thank you for your reply. but if the interest amount is more than Rs. 20000/- paid in cash then Section 269 will be applicable ?
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

S Sivasalapathy

Profile Image

S Sivasalapathy (Expert)
16 April 2013 Sec 269ss & t not applicable to interest on loan. It is relates to loan given and acceptance.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
17 April 2013 thank you for your reply

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links