Online transfer
This query is : Resolved
03 January 2014
do we regard online transfer from one account to another as cash for loan purpose sec 269SS and 269TT
07 January 2014
no. it can not be considered as cash. Though not specifically provided under section 269SS/269TT, however, income tax act does provide NEFT/RTGS equivalence to cheques/DD through rule 6DD.
You can also refer to judgment in the case of 68 TTJ 44
You can also refer to judgment in the case of 68 TTJ 44
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