loan transaction
This query is : Resolved
08 June 2011
IS THERE ANY LIMIT ON LOAN TAKEN IN CASH BY ONE INDIVIDUAL FROM ANOTHER DURING THE YEAR?
FOR EG :A TAKES LOAN OF 18000/- IN JAN THEN 19000/- IN MARCH FROM MR.B,WHETHWER THIS TRANSACTION IS TAXABLE?
FOR EG :A TAKES LOAN OF 18000/- IN JAN THEN 19000/- IN MARCH FROM MR.B,WHETHWER THIS TRANSACTION IS TAXABLE?
08 June 2011
Dear Darshita,
In your Example, given transactions are taxable by scope of Sec. 269ss.
Sec 269ss speaks about the aggregate amount and not about a single transaction.
Hope this Information is helpful to you.
With Regards,
In your Example, given transactions are taxable by scope of Sec. 269ss.
Sec 269ss speaks about the aggregate amount and not about a single transaction.
Hope this Information is helpful to you.
With Regards,
08 June 2011
sir,
bt whether this 269ss is also applicable to the person not covered by 44AB?
bt whether this 269ss is also applicable to the person not covered by 44AB?
08 June 2011
Dear Darshita,
yes. Sec. 269SS shall apply to a person also who is not covered by sec. 44AB.
With Regards,
yes. Sec. 269SS shall apply to a person also who is not covered by sec. 44AB.
With Regards,
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
- DELIVERY GOLD & SILVER AND OTHER ETF TRADING PROFIT AS BUSINESS INCOME
- GSTR-1A How to update Invoice
- Excess salary payment.
- 3cd- cash system of accounting is allowed?
- Provision for loans that are under Revenue Recovery
- APPLICABILITYOF GST ON STUDENT HOSTEL FEES
- Form 121-contradictory opinions
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- 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
