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penalty for cash loan

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17 Points Posted on 25 April 2019
If a person gives a loan of Rs. 10 lakhs to another person in cash, then penalty u/s. 269SS should be levied in whose hands and penalty u/s. 269T in whose hands?
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On 25 April 2019 at 00:53 Report
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12244 Points Posted on 25 April 2019
in the hands of receiver of cash loan in excess of 20000 - 269ss
in the hands of payer (repayment of loan) in cash excess of 20000 - 269T
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On 25 April 2019 at 01:33
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Manager
302 Points Posted on 25 April 2019

Agree with above.

1 Reply
On 25 April 2019 at 12:17
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Executive
201 Points Posted on 25 April 2019

In Hands Of the receiver only

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On 25 April 2019 at 15:34
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Advocate
156 Points Posted on 29 April 2019
there is other provision for penalising to lander for cash loan given
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On 29 April 2019 at 16:21
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INCOME TAX OFFICER
1736 Points Posted on 29 April 2019
There's no such provisions in Income-tax act to penalise lender
1 Reply
On 29 April 2019 at 16:25
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7059 Points Posted on 30 July 2019
good clarification
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On 30 July 2019 at 20:22


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