269SS and 269T
Prabneet Singh (8 Points)
01 March 2020Also the section says that “the provisions of this section shall not apply to any loan or deposit or specified sum taken or accepted from, or any loan or deposit or specified sum taken or accepted by where the depositor and the acceptor are both having agricultural income and neither of them have any taxable income.”
My query is that : Can a farmer having agricultural income only repay the loan taken in cash which is exempted under section 269SS?
In short will 269T get attracted on repayment of loan in cash.?