Tax Audit
This query is : Resolved
HEMANT JAIN
(Querist)
21 September 2016
IS Sec 269SS and Sec 269T
applicable
in case of loan advances GIVEN ???
and detail of these transaction mensioned in Tax Audit Report
ACA Anurag
(Expert)
21 September 2016
Hope your query is resolved
Hope your query is resolved
Kaushik Joshi
(Expert)
21 September 2016
Dear Hemant,
No the said provisions are not applicable. the section talks about loans taken and repaid only.
Message likes :
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CA Sumiit B Nagpal
(Expert)
23 September 2016
Mr. Kaushik Joshi is right, 269SS speaks about the loans taken /accepted during the year and 269T speaks about the loans repaid during the year. Hence, no need to mention about the loans or advances given.
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