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Unsecured Loan

This query is : Resolved 
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(Querist)
07 March 2010 Can a P Ltd Company taken less than rs.20000/- in cash?
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CA.SHAHZAD SAYYED

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CA.SHAHZAD SAYYED (Expert)
07 March 2010 Dear Gupta
There is no problem in taking of Loan as Cash this is problamatic for Giver but however at the time of repayment of Loan if your cumulative repayment figures exceeds Rs.20000/- then as per Sec 269SS & T you have to repaid by Cheque only
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
07 March 2010 No problem in taking more than 20000/- but in payment you will give cross cheque if payment exceed 20000/-
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