U/s 269ss
This query is : Resolved
17 June 2010
Dear Sir,
Whether Loan made to Director of a company in excess of Rs. 20000 will attract section 269SS?
Whether Loan made to Director of a company in excess of Rs. 20000 will attract section 269SS?
17 June 2010
the provisions of this section shall not apply to any loan or deposit taken or accepted from, or any loan or deposit taken or accepted by, -
(a) Government;
(b) Any banking company, post office savings bank or co-operative bank;
(c) Any corporation established by a Central, State or Provincial Act;
(d) Any Government company as defined in section 617 of the Companies Act, 1956 (1 of 1956);
(e) Such other institution, association or body or class of institutions, associations or bodies which the Central Government may, for reasons to be recorded in writing, notify in this behalf in the Official Gazette :
So in your case it will not apply
(a) Government;
(b) Any banking company, post office savings bank or co-operative bank;
(c) Any corporation established by a Central, State or Provincial Act;
(d) Any Government company as defined in section 617 of the Companies Act, 1956 (1 of 1956);
(e) Such other institution, association or body or class of institutions, associations or bodies which the Central Government may, for reasons to be recorded in writing, notify in this behalf in the Official Gazette :
So in your case it will not apply
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- FORM 26A APPLICABILITY
- When TDS on GST applied
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
