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269ss

Stat Audit 1431 views 5 replies

dear friends,

Whether For form 3CD point no. 24 loan from director Rs. 5lac by a/c payee cheque would be reported or not.

Replies (5)

point 24 of 3cd

* particulars of each loan or deposite in an amount exceeding the limit specified in section 269SS thaken or accepted during the previous year :-
 

269SS. No person shall, after the 30th day of June, 1984, take or accept from any other person , any loan or deposit otherwise than by an account payee cheque or account payee bank draft if,—

          (a)  the amount of such loan or deposit or the aggregate amount of such loan and deposit ; or

          (b)  on the date of taking or accepting such loan or deposit, any loan or deposit taken or accepted earlier by such person from the depositor is remaining unpaid (whether repayment has fallen due or not), the amount or the aggregate amount remaining unpaid ; or

           (c)  the amount or the aggregate amount referred to in clause (a) together with the amount or the aggregate amount referred to in clause (b),

is twenty thousand rupees or more :

yes, it should be reported.

yes it should be reported as the loan taken from a.c payee cheque from director also falls within the purview of Sec. 269SS.

Yes as the loan amount is more than Rs. 20,000/-

yes it should be reported if it is an Unsecured loan


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