Disclosure of repayment of loans/deposits in an amount exceeding limit specified in section 269T

I am supposed to diclose repayment of loans/deposits in an amount exceeding limit specified in section 269T in point 31C of Form 3CD. If suppose, I have repaid partly in cash (below Rs 20,000) and remaining balance through cheque, how am I supposed to disclose it? What am I supposed to select in the mode of payment column(I have marked the columns in question in the enclosed pdf)?


Attached File : 3129471 20200710114828 untitled.pdf downloaded: 87 times
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Quick Summary
This discussion addresses the disclosure requirements for loan or deposit repayments exceeding the limit specified in Section 269T of the Income Tax Act, specifically within point 31C of Form 3CD. The user is seeking clarification on how to report repayments made partly in cash (below £20,000) and partly via cheque. The core issue is determining the correct mode of payment to select in the disclosure form when the aggregate amount exceeds the cash limit, as Section 269T generally prohibits cash repayments above this threshold.

If the aggregate amount of loans or deposits, including the interest amount, held by such person in his own name, or jointly with any person, is Rs. 20000 or more cannot repay in cash as per section 269T
Originally posted by : Shubham
I am supposed to diclose repayment of loans/deposits in an amount exceeding limit specified in section 269T in point 31C of Form 3CD. If suppose, I have repaid partly in cash (below Rs 20,000) and remaining balance through cheque, how am I supposed to disclose it? What am I supposed to select in the mode of payment column(I have marked the columns in question in the enclosed pdf)?

You can't pay through CASH if you paid than you are required to disclose 

Originally posted by : Shubham
I am supposed to diclose repayment of loans/deposits in an amount exceeding limit specified in section 269T in point 31C of Form 3CD. If suppose, I have repaid partly in cash (below Rs 20,000) and remaining balance through cheque, how am I supposed to disclose it? What am I supposed to select in the mode of payment column(I have marked the columns in question in the enclosed pdf)?

You can't pay through CASH if you paid than you are required to disclose 

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