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Loan accepted in excess of rs.20000/- & returned

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 July 2012 Thanks in Advance
I have one query that one of my client has taken loans from relatives in excess of Rs.20000/- for her medical treatment since she was hospitalized and hospital was not accepting cheques or DD so compulsorily their relative had to deposit cash in hospital for her treatment. So my question is whether penalty will be levied since she has accepted and after discharge repaid the amount of loan in excess of Rs.20000/-. Prompt Reply is necessary.
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CA Lokesh Pokharna

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CA Lokesh Pokharna (Expert)
12 July 2012 you needs to mention full particulars of your case.. amount can be spread in more than one entry in different days....(its a usual way)
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