U/s 269ss & 269t
This query is : Resolved
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.
.
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