Dear All
As per It Act what is the limit for cash loan and repayment please also mention the section also
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Limit of Cash Loan
Replies (2)
Dear Rajesh,
the limit is only Rs. 20,000/- u/s 269SS & 269T. please write any query related to Taxation. my email id is sachinagarwalcallb @ gmail.com
As per sec 269ss & 269t if the amount or laon /deposit is Rs..20000or more then the same shall not be taken or repaid otherwise than by an account payee cheque.
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