Hello
We know that a person can not take loan in cash exceeding 20,000 from a person . But is it possible to take loan, say Rs. 19000 from 5 individuals. Will it violate provisions of IT Act?
Thanks
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Can a person take loan from different persons in cash exceeding 20,000??
Replies (1)
Yes You Can Take Loan of Rs.19000 from 5 Different Person It Will Not Affect the provision of Section 269SS
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