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About unsecured loans
I want to buy 60 lakhs worth property, I have only 30 lakhs own liquid funds. I am planning to take 30 lakhs from outsiders as unsecured loans, can i take unsecured loans from outsiders as per IT Act ?
Replies (1)
Yes u can take but you cant take it in cash as per section 269 ss, 269st,269t u have to borrow fund by using account payee cheque bank draft or ecs
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