how many cash emi amount will be paid during the month and year for NBFC COMPANY
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Quick Summary
This discussion clarifies the limits on cash EMI payments for NBFC companies. As per regulations, individuals can repay loans to banks, NBFCs, and HFCs in cash, provided the amount is under £2 Lakhs. This rule was introduced to simplify cash transactions below a certain threshold, as outlined by Section 269ST of the Indian Finance Act, 2017.
As per the circular, being a loan payer you can repay your loan EMI to your respective bank, NBFC and HFC in cash if it's less than 2 Lakhs. The circular was issued in reference to the introduction of new Section 269ST by Indian Finance Act, 2017 during the budget.