Dear Friends,
Please clarify me regarding the following query
X LTD is Taking or accepting a loan from a person Y in cash i.e 500 Rs. But the amount already outstanding in the Y's account is 19,800 Rs . Now the acceptance of Rs. 500 in Cash is a violation to section 269 Ss or not ?????? Reply
Yes it is applicable..as per clause (c) of S. 269SS
Hema Yashwanth & Associates
Chennai
B.Com
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Rohit KC Jain & Co
New Delhi
CA Inter
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Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
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CCI
Pro
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