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).
Message likes :
1 times
21 June 2010
agree
Message likes :
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.
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
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- LIC maturity claim whether taxable
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- Cash balance limit and property purchases limit
- Can we choose not to report losses in ITR3 if they cannot be carried forward?
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
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
