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Section loan and deposit and cash received 269 ss

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 June 2015 whether a company can not take loan and deposit more than 19999 in cash in a day.
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Amol S Joglekar

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Amol S Joglekar (Expert)
14 June 2015 No. That should not be done.

If it is done, it will be reported in tax audit report by the tax auditor.
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