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269ss & 269t

Tax queries 1153 views 5 replies
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Chartered Accountant
121 Points Posted on 04 January 2012

Hi, Frienz !

I would like to know wat is the meanin of Square off as mentioned in section 269SS & 269T ! Please can any1 explain this to me !

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On 04 January 2012 at 10:49 Report
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Partner - Gautam Joshi & Co.
871 Points Posted on 04 January 2012
First of all dear friend it's 269SS and 269 T. Square off means the balance of unsecured loan is NIL at the balance sheet date i.e. 31st march usually.
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On 04 January 2012 at 10:56
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Chartered Accountant
121 Points Posted on 04 January 2012

Thank you very much Mr.  CA Neil Ganatra

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On 04 January 2012 at 10:59
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Chartered Accountant
121 Points Posted on 04 January 2012

If der is a part payment towards principal, can we call it as squared off or entire amount should b paid, only den it ll b called as squared off !

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On 04 January 2012 at 11:05
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Partner - Gautam Joshi & Co.
871 Points Posted on 04 January 2012
the balance should be NIL which means a complete payment.
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On 04 January 2012 at 11:26
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Chartered Accountant
121 Points Posted on 04 January 2012

Thank you once again !

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On 04 January 2012 at 11:27


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