Loan from directors
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 August 2012
sir,my question is whether we could take loan from directors of 50000 in cash?what will be the tax implications?
07 August 2012
Section 269SS of the Income Tax Act prohibits accepting loans in cash in excess of Rs. 20,000.
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