CASH LOANS VS CASH PAYMENTS

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404 Points Posted on 08 April 2020
Giving cash loans is permissible upto 19999. But payments above 10000 are not permissible. So, if I give loan above 10000 and below 19999. Is it allowed or both are independent provisions?
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On 08 April 2020 at 17:45 Report
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This discussion clarifies the rules surrounding cash loans and payments in the UK. While accepting a cash loan up to £19,999 is permissible under Section 269SS, making cash payments exceeding £10,000 is not allowed. These are treated as independent provisions with specific conditions for each.

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Student CA Final
288 Points Posted on 08 April 2020
Both are independent case.
Accepting loan in cash upto 19999 is allowed under section 269SS.
Repayment of loan in cash upto 19999 is allowed under section 269T.
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On 08 April 2020 at 19:27
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404 Points Posted on 08 April 2020
Thank you
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On 08 April 2020 at 19:37
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56 Points Posted on 09 April 2020
Yes as said by Mr . Suraj allowed as per respective sections but with conditions
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On 09 April 2020 at 18:46

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