Withdrawal in cash from partners capital account by partner
This query is : Resolved
P.Madhivadhanan
(Querist)
26 September 2026
A PARTNER HAVE HAVE CREDIT BALANCE IN HIS CAPITAL ACCOUNT RS.1500000 . HE WANTS TO WITHDRAW IN CASH FOR HIS PRIVATE PURPOSE RS.400000. IS IT PERMISSIBLE UNDER SECTION 269SS,269T AND 269ST OF INCOME TAX ACT
27 September 2026
Section 269SS: Not applicable (applies to accepting loans/deposits, not withdrawals). Section 269T: Not applicable (capital withdrawal is not repayment of a loan/deposit). Section 269ST: Applicable (restricts cash receipts of ₹2,00,000 or more; withdrawing ₹4,00,000 in cash violates this section and risks a 100% penalty u/s 271DA on the partner).
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