Unsecured Loans in Proprietory Firm
This query is : Resolved
karuna kumar
(Querist)
03 May 2011
one proprietor is taking by cash as hand loan from others for interest 2% P.Month
will it possible to allow the transaction in aspect of I.Tax point of View. what is the Limits in this Regarding.
will it possible to allow the transaction in aspect of I.Tax point of View. what is the Limits in this Regarding.
CA Navin Jain
(Expert)
03 May 2011
loan can not be taken more than rs. 20000 in cash
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