Cash repayment of unsecured loan

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Articled assistant
146 Points Posted on 13 July 2021
Can repayment of loan be made in cash everyday of Rs < 20,000 ?

Loans are being taken otherwise than through cash.
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On 13 July 2021 at 00:54 Report
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This discussion clarifies the rules surrounding cash repayments for unsecured loans. It confirms that daily cash repayments under Rs 20,000 are permissible, provided the loan itself was not taken in cash. The relevant sections of the Income Tax Act, specifically 269SS and 269T, are referenced for further details on limits and procedures.

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Chartered Accountant
24588 Points Posted on 13 July 2021
Yes no problem under section 269SS
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On 13 July 2021 at 05:54
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Profession Business
28246 Points Posted on 13 July 2021
This cannot be a question of discussion.
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On 13 July 2021 at 08:05
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STUDENT
1631 Points Posted on 14 July 2021
1st, Per Year Limit - Person to Person -20000

Through Bank -No Limit -269 T -Please Refer.
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On 14 July 2021 at 02:09
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Chartered Accountant
24588 Points Posted on 14 July 2021
Refer both 269SS and 269T
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On 14 July 2021 at 09:34

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