Cash loan taken above rs 20000

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17 Points Posted on 21 January 2021
If an assessee has taken cash loan of rs more than 20000 then sec. 69D is applicable or not, in the hand of receiver??
if not, in which section addition can be made?
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On 21 January 2021 at 22:23 Report
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Quick Summary
This discussion explores the tax implications of receiving cash loans exceeding £20,000. It questions the applicability of Section 69D for the receiver and suggests potential additions under Section 68. Furthermore, it highlights that Section 269SS may apply, and receiving such loans in cash could lead to a penalty equal to the loan amount.

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215 Points Posted on 21 January 2021
Check Section 68 and 69A
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On 21 January 2021 at 22:34
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113 Points Posted on 21 January 2021
Sec 269ss will be applicable
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On 21 January 2021 at 23:30
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17269 Points Posted on 22 January 2021
Loan above 20000/- will attract 100% penalty.
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On 22 January 2021 at 14:16
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Accountant
4533 Points Posted on 23 January 2021
Iif you receive any loan exceeding 20000 in cash ,
then penalty will be levied of equal amount of loan
1 Reply
On 23 January 2021 at 23:41

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