U/s 269ss & 269t
This query is : Resolved
CA PARAS BAFNA
(Expert)
15 June 2012
For a general understanding -
---------------------------
Section 269SS: talks about Loans and deposits being accepted by you.
.
Khetesh can not take a loan or deposit in cash of Rs. 20000 or more.
.
If he has already taken Rs. 15000/- loan from Devesh, then he can not take another 6000/- from Devesh in Cash. This time you have to request him to give you an account payee cheque of Rs 6000 or more.
.
Section 269T: It is about repayment of Loan or deposit.
-------------
Suppose you have taken a loan of Rs 100000/ by an account payee cheque from Ramesh.
(269SS)
.
You can not repay a single rupee in cash as the amount of loan exceeds 20000.
.
You can repay only through an account payee cheque in such cases.
.
---------------------------
Section 269SS: talks about Loans and deposits being accepted by you.
.
Khetesh can not take a loan or deposit in cash of Rs. 20000 or more.
.
If he has already taken Rs. 15000/- loan from Devesh, then he can not take another 6000/- from Devesh in Cash. This time you have to request him to give you an account payee cheque of Rs 6000 or more.
.
Section 269T: It is about repayment of Loan or deposit.
-------------
Suppose you have taken a loan of Rs 100000/ by an account payee cheque from Ramesh.
(269SS)
.
You can not repay a single rupee in cash as the amount of loan exceeds 20000.
.
You can repay only through an account payee cheque in such cases.
.
Message likes :
1 times
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
- Gst credit note by supplier
- Missed uploading GST Invoice
- Due date for filing return for the partner in partnership subjected to Tax Audit
- GST on reimbursement of expenses
- Query on effect of registration of property
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Wrong CMPo8 file
- Whether output tax is taken credit by purchaser
- Number of years as per AS amortisation of Goodwill
- Equity Share Sale and Purchase
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
