Loan given in cash by a
This query is : Resolved
01 October 2014
Dear sir, A has given loan to B of Rs 740000 in cash is there any problems??? 1. is this above amount should mention in audit report or not and where ??A is under audit. 2. is there any effect in the it return of A??
269ss and t section is for only loan or taken na ?? then what about loan given in cash???
01 October 2014
Yes 269 SS applicable to acceptance of loan exceeds Rs. 20000/- and
269T applies to already accepted loans.
In your case it not effect to "A"
But it effect to "B" party in your case.
Other wise make it as advance or deposits there by it not effect the "A" as well as "B".
269T applies to already accepted loans.
In your case it not effect to "A"
But it effect to "B" party in your case.
Other wise make it as advance or deposits there by it not effect the "A" as well as "B".
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Multiple trade mark
- FORM 26A APPLICABILITY
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- Copyright software
- Before GSTAT- APL-02 Vs APL-04
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
