Section 269ss
This query is : Resolved
CA. Hipex Jain
(Querist)
23 August 2011
In FY 2009-10 I had accepted a loan of Rs. 1,20,000 through banking channel. During FY 2010-11 further i have accepted loan of Rs. 15,000 in cash.
Is there any violation of Section 269SS.
Is there any violation of Section 269SS.
23 August 2011
No violation per se.
CA PARAS BAFNA
(Expert)
23 August 2011
Loan through banking channels
MEANS LOAN ACCEPTED BY AN ACCOUNT PAYEE CHEQUE OR DD FROM MR. RAY.
If from the same Mr Ray you take cash loan of15000/ then it is violation of Section 269SS since the loan has already exceeded the limit of20000.
It is violation of section 269SS.
MEANS LOAN ACCEPTED BY AN ACCOUNT PAYEE CHEQUE OR DD FROM MR. RAY.
If from the same Mr Ray you take cash loan of15000/ then it is violation of Section 269SS since the loan has already exceeded the limit of20000.
It is violation of section 269SS.
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