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Section 269ss

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(Querist)
17 November 2011 suppose if party A takes cash loan of 15000.00 from party B and then repays it and then again takes cash loan of 10000.00 from same party. Does it attract provisions of Section 269SS??
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Yogesh Agarwal

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Yogesh Agarwal (Expert)
17 November 2011 No This will not attract section 269SS. As per the provision if an amount outstanding exceeding 20000/- then can not take advance in cash. In your case outstanding is not exceeding the threshold limit so party a can take cash advance.

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