Loan given to one person in case
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???
01 October 2014
yes it will attract sec 269SS and will have to be incorporated in audit report.
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