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269ss
RECEIPT FROM DEBTORS=20000=269SS NOT ATTRACTED
PYMT TO DRS [SINCE EXCESS RECD]--269T NOT ATTRACTED
PYMT TO CRS >20000 40A(3) ATTRACTED
RECEIPT FROM CRS=> 20000 269SS NOT ATTRACTED
ADVANCE RECD FROM DRS=269SS NOT ATTRACTED
ADVANCE GIVEN TO CRS >20000 40A(3) ATTRACTED
NOTHING MENTIONED IN THE PROVISIONS OF SEC 269SS/T SPECIFICALLY STATING THT DRS/CRS TRANS R OUTSIDE THE SCOPE OF 269SS/T.
BUT IN GUIDANCE NOTE ISSUED BY ICAI IT IS STATED....
SO PLS GIVE ME ANSWER BY GIVING SOME CASE LAWS/CIRCULARS/.............
Replies (2)
Section 269ss covers loans or deposited. Amt received from or paid to debtors/creditors are not in nature of loan or deposit, there is no scope for any doubt in this regard.
i asked u to give some circular case law =not for drs but if advance recd for some property
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