Sec.269SS & 269T
This query is : Resolved
30 July 2010
My Client has availed two loans during the financial year 09-10 one is Rs.2.00 lakhs from a corporate finance and another is Rs.1.50 lakhs from financial institutions by Account Payee Cheque for purchase of Vehicle. He repaid in a monthly instalment to both by cash Rs.10000/- & Rs.7500/- respectively for 11 months during the same financial year 09-10. Wheather 269T will be attracted or not?
30 July 2010
No, Sec. 269 is applicable for Transtions with Relatives or Interested People only.
30 July 2010
https://www.taxguru.in/income-tax/provisions-of-section-269ss-and-269t-under-income-tax-act.html
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