Section 269t
This query is : Resolved
PRASHANT SHARMA
(Querist)
14 September 2013
NO REPAYMENT OF UNSECURED LOAN BUT ONLY INTEREST ON UNSECURED LOAN OF MORE THAN RS. 20000/- PAID DURING THE FINANCIAL YEAR. IS IT NECESSARY TO SHOW THE TRANSACTION IN POINT NO. 24 OF TAX AUDIT REPORT(FORM 3CD) UNDER SECTION 269T?
Nitesh Parmar
(Expert)
14 September 2013
If it is actually paid in cash then required to disclosed otherwise not.
PRASHANT SHARMA
(Querist)
14 September 2013
Sir,Thank you for the above reply....
1 more question:-
We are showing all transaction of UNSECURED LOANS (in both payment and taken) if it exceeds more than Rs. 20000/- during the financial year even if all the transactions are done through BANK under Section 269SS & 269T.
BUT some say that it is only required in case of CASH transactions only. Please throw some light in this regarding.....
1 more question:-
We are showing all transaction of UNSECURED LOANS (in both payment and taken) if it exceeds more than Rs. 20000/- during the financial year even if all the transactions are done through BANK under Section 269SS & 269T.
BUT some say that it is only required in case of CASH transactions only. Please throw some light in this regarding.....
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