Can an individual give loan or advance in cash to his relative in a
single FY of 50000
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income tax Advanc
Replies (4)
Better to give Banking Mode....
if suppoae i give in cash then whether there is any penalty
Yes... As per sec 269st You can't pay to anyone as loan, Deposit or Advance in cash for amount exceeding Rs 20k. If You are paid then Penalty will be equal to amount of Loan or Advance...
ohk thnks
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