Tax audit loan annexure
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 June 2010
Do we need to consider interest paid while disclosing the amount repaid in clause 24b of form 3cd u/s 269T?
18 June 2010
All repayments where the loan or deposit along with interest is Rs. 20,000/- or more are to be reported under clause 24(b).
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21 June 2010
agree
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1 times
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 July 2010
sir that is the condition for reporting of repayment of loan but while reporting do we have to include interest payment in the repayment schedule
26 July 2025
Yes, your question is specifically about **Clause 24(b) of Form 3CD** under Section **269T** — and whether **interest paid** should be **included in the repayment amount** when disclosing repayments of loans or deposits.
---
### ✅ **Clarification – Clause 24(b) of Form 3CD:**
**Clause 24(b)** asks for:
> “Particulars of repayment of loan or deposit or any specified advance made otherwise than by account payee cheque or account payee bank draft or use of electronic clearing system through a bank account, where the amount of the loan or deposit or specified advance **together with interest**, if any, was ₹20,000 or more.”
---
### 📌 **So, Do You Include Interest in the Amount Reported?**
✔️ **Yes**, you need to **include interest** while reporting **repayments** in this clause **if**:
* The total amount of loan/deposit/advance **along with interest** **repaid otherwise than by prescribed modes**, and
* The amount is **₹20,000 or more**, **in aggregate** (loan + interest).
---
### 🧾 **Example:**
| Particulars | Amount | Mode of Payment | Report under Clause 24(b)? |
| -------------- | ------- | --------------- | -------------------------- |
| Loan Principal | ₹18,000 | Cash | ❌ No (Below ₹20,000 total) |
| Interest Paid | ₹3,000 | Cash | ✅ Yes (₹21,000 total) |
Even though the **principal is below ₹20,000**, once you **include interest**, and the **aggregate repayment** hits ₹20,000 or more, **reporting is mandatory** if not done via prescribed modes.
---
### 📌 Important Notes:
* If the **repayment** is made **in account payee cheque / bank draft / ECS**, then **reporting is not required**, even if amount > ₹20,000.
* Reporting is required **only** when repayment is made **in violation** of Section 269T (i.e., **in cash or unprescribed modes**).
---
### 🟦 Summary:
* **Yes**, include **interest** while reporting repayments under **clause 24(b)** of **Form 3CD**.
* The **threshold of ₹20,000** is **for principal + interest combined**.
* Only **non-compliant repayments** (e.g., in cash) are reportable.
---
### ✅ **Clarification – Clause 24(b) of Form 3CD:**
**Clause 24(b)** asks for:
> “Particulars of repayment of loan or deposit or any specified advance made otherwise than by account payee cheque or account payee bank draft or use of electronic clearing system through a bank account, where the amount of the loan or deposit or specified advance **together with interest**, if any, was ₹20,000 or more.”
---
### 📌 **So, Do You Include Interest in the Amount Reported?**
✔️ **Yes**, you need to **include interest** while reporting **repayments** in this clause **if**:
* The total amount of loan/deposit/advance **along with interest** **repaid otherwise than by prescribed modes**, and
* The amount is **₹20,000 or more**, **in aggregate** (loan + interest).
---
### 🧾 **Example:**
| Particulars | Amount | Mode of Payment | Report under Clause 24(b)? |
| -------------- | ------- | --------------- | -------------------------- |
| Loan Principal | ₹18,000 | Cash | ❌ No (Below ₹20,000 total) |
| Interest Paid | ₹3,000 | Cash | ✅ Yes (₹21,000 total) |
Even though the **principal is below ₹20,000**, once you **include interest**, and the **aggregate repayment** hits ₹20,000 or more, **reporting is mandatory** if not done via prescribed modes.
---
### 📌 Important Notes:
* If the **repayment** is made **in account payee cheque / bank draft / ECS**, then **reporting is not required**, even if amount > ₹20,000.
* Reporting is required **only** when repayment is made **in violation** of Section 269T (i.e., **in cash or unprescribed modes**).
---
### 🟦 Summary:
* **Yes**, include **interest** while reporting repayments under **clause 24(b)** of **Form 3CD**.
* The **threshold of ₹20,000** is **for principal + interest combined**.
* Only **non-compliant repayments** (e.g., in cash) are reportable.
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