Section 269t
This query is : Resolved
Deendayal Lekhraw
(Querist)
21 September 2012
Let me know that under section 269T the language mentioned is repayment of loan or deposit but if we give loan & advances to other person then it's means only payment of loan not repayment of loan so whether we have to mentioned these in our tax audit report u/s 44AB in 3CD or not. Am I wrong or not please clarify
Amol S Joglekar
(Expert)
21 September 2012
Please check if it is hit by section 269SS
Deendayal Lekhraw
(Querist)
22 September 2012
Sorry Sir,I think you couldn't understand my question so plz describe in details reason being we are giving loan to others first times means it is shown in BS in assets side
but 269SS attracts only deposits or loans which means when we accept a loan or deposit & 269T says repayment of such deposit or loan which is already taken by us.
but 269SS attracts only deposits or loans which means when we accept a loan or deposit & 269T says repayment of such deposit or loan which is already taken by us.
Amol S Joglekar
(Expert)
22 September 2012
Loans GIVEN by you are not hit by 269SS. (It might hit the LOAN TAKER, but that is not the current topic) Consequently, repayment of SUCH loans given by you; when comes back to you are also not hit by 269T. Your contention is right.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- GST on reimbursement of expenses
- Visiting card purchase
- Wrong CMPo8 file
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Number of years as per AS amortisation of Goodwill
- Whether output tax is taken credit by purchaser
- Equity Share Sale and Purchase
- Additional trade name
- Foriegn assets disclosure
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
