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Loan confusion


veera (self)     26 November 2020

veera
self 
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sir/mam, should u can receive a loan of more than 20000 in cash.
on a different dates from a single person.
ex i received a loan of 200000 from a person on a different dates which amt is less than 20000k .
is there any issue of taking the loan amt of 200000.
pls clear my doubts

JATINDER KUMAR

JATINDER KUMAR (Accountant)     26 November 2020

JATINDER KUMAR
Accountant 
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You can not receive loan in cash above Rs. 20000 per person per year

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Aman Verma

Aman Verma   27 November 2020

Aman Verma

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As per 269 SS any person shall not receive any amount exceeding the limit (20000) otherwise than by account payee check , draft or ECS

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veera

veera (self)     27 November 2020

veera
self 
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Sir is this limit for those taxpayers whose books are being audited.
or for every individual

JATINDER KUMAR

JATINDER KUMAR (Accountant)     27 November 2020

JATINDER KUMAR
Accountant 
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For every taxpayers....

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Aman Verma

Aman Verma   28 November 2020

Aman Verma

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Sec 269 SS starts with - " A person " it includes everyone

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veera

veera (self)     28 November 2020

veera
self 
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Thanks sir for your kind reply

JATINDER KUMAR

JATINDER KUMAR (Accountant)     28 November 2020

JATINDER KUMAR
Accountant 
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Welcome Veera


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