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269 ss cash loan
Suppose we accept a loan from person A of rs 20000 on 2nd april and repay it on 5th April and again accept on 10th April and repay on 15th april. So it that case should any penalties attract or not??
Replies (5)
Quick Summary
In my opinion it is possible. but the limit is of 20000 or more. so you can accept any amount less than 20000.
So this limit applies on a single day ?
Limitation is not day wise. it is amount wise. one can take a loan of maximum Rs. 19999 in cash from a person and untill it is repaid he cannot take further loan from the same person.
So after repayment we can continue it again and again ?
Yes..
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