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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Cash loan taken above rs 20000
Replies (4)
Quick Summary
Check Section 68 and 69A
Sec 269ss will be applicable
Loan above 20000/- will attract 100% penalty.
Iif you receive any loan exceeding 20000 in cash ,
then penalty will be levied of equal amount of loan
then penalty will be levied of equal amount of loan
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