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Section 269SS

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 December 2009 Suppose, a company has accepted security deposit from a contractor in cash in excess of Rs. 20,000. In such case, would the provisions of Sec. 269SS apply?
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CA SURENDRA KUMAR RAKHECHA

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CA SURENDRA KUMAR RAKHECHA (Expert)
22 December 2009 Yes.
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Manikanta Raju CA,CWA,(CS)

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Manikanta Raju CA,CWA,(CS) (Expert)
23 December 2009 269SS covers both loan and deposit .
And this section is applicable to all persond and hence in your case the transaction attracts Sec. 269SS
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