Loan given in cashexceeding 20000/-
This query is : Resolved
21 September 2012
I have a business of lending money to aboriginal people on pledging there jewelery who lives in forest & rural area and dont aware about banking, and doesen't have any bank account therefore I can't lend them money by cheque or draft, further i have to accept cash on respect of principal & Interest
DO I attract 269SS & 269T
DO I attract 269SS & 269T
22 September 2012
Hi
according to me it wont attract section 269SS and section 269T because jewellery is placed as a security...So it will be included in secured loans...
according to me it wont attract section 269SS and section 269T because jewellery is placed as a security...So it will be included in secured loans...
23 September 2012
You are not taking or accepting loans and deposit neither there is repayment of loan or deposit therefore no provisions of 269SS or 269T attracts in your case.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- FORM 26A APPLICABILITY
- SFT Cash Deposit in Current Account
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- 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
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
