Cash Loan

413 views 7 replies
User Avatar

Accountant
616 Points Joined September 2017
Sir I have given a sum of rs 20 lac as unsecured loan to one person in cash, may I'm liable to penalties if yes in which section.
0 Reply Share Follow
On 08 March 2019 at 19:18 Report
Replies (7)
User Avatar

512 Points Joined October 2018
penalty u/s 271E for contravention of provisions of section 269ST equal to amount of loan given
Reply
On 08 March 2019 at 19:21
User Avatar

17 Points Joined February 2019
No this provision on receiver.
Reply
On 08 March 2019 at 19:24
User Avatar

512 Points Joined October 2018
For accepter 271D for contravention of 269SS
Reply
On 08 March 2019 at 19:27
User Avatar

CA FINAL ASPIRANT
3115 Points Joined September 2018
you will be liable u/s 271D @ 100%..for accepting loan which exceeds the limit as given in section 269DS
1 Reply
On 08 March 2019 at 19:43
User Avatar

INCOME TAX OFFICER
1736 Points Joined February 2014
no action will be against you. penalty under 271D in the hands of receiver
1 Reply
On 08 March 2019 at 19:45
User Avatar

other
301 Points Joined February 2019

The capacity to handle such a huge amount of cash at hand can be queried by department.

Reply
On 08 March 2019 at 19:58
User Avatar

CA FINAL ASPIRANT
3115 Points Joined September 2018
sorry ..there is typing mistake...it's section 269SS and..but it is for accepting loan...therefore such provisions are not applicable to you...
Reply
On 09 March 2019 at 08:13


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading