Doubt for cash un secured loans huge amount

it person cash loans from different persons each person rs:19,000/- * 18 persons total amount rs:3,42,000/-
cash loans from different persons each person rs:18,000/- *16 persons total amount rs:2,88,000/-
total rs:6,30,000/-
question:
assessess un secured cash loans huge amount sec 68 and 69 provision applicable in it act
Replies (4)
Quick Summary
This discussion explores the tax implications of substantial unsecured cash loans, specifically questioning the applicability of Sections 68 and 69 of the IT Act. The user is seeking clarification on whether these provisions apply to cash loans received from multiple individuals, totalling a significant amount. The thread also touches upon the importance of ensuring loan approval according to established norms.

Applicable only if no explanation available
Already asked the same question on 23rd December 2023.
May be not get satisfactory reply or want to know something more.
First have to make sure ur loans will be approved or not as per norms.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
ARTICLESHIP 24 August 2026
Article Assistant

M/s.S.G.Salecha & Co.

Mumbai

CA Inter

View Details
Company
12 August 2026
Deputy Manager - Finance

RoamPrime Technologies Private Limited

Bengaluru

CA

View Details
Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
08 September 2026
Audit Executive

Thammana & Associates

Srikakulam

B.Com

View Details