Section 269 ss

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Querist : Anonymous

Querist : Anonymous (Querist)

10 January 2014 Dear Sir/Madam
If a person takes 1800000 Rs private loan through Cheques for the purpose of purchasing house property(in short not fo the purpose of business ).and if he paid in cash to them time to time . what will be the consequenses according to Sec 269 SS and T

Querist : Anonymous

Querist : Anonymous (Querist)

11 January 2014 Thanks in short if possible to avoid Cash repayment then no penalty attracted .....even if such loan is not taken for business purpose,because section silent about the purpose.plz reply.and thanks again

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