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Regarding cash receive
Sir. I am an small agriculturust and Transporter having two truck. Sir my query is that my father has taken Krishi loan a sum of rs 2.00 lac and he has given me a sum of 1.00 lac as cash, may I have taken this amount in cash and the said amount deposit in my bank account as cash.
Replies (3)
sir, it is advisable to transfer loan via bank accounts.
Yaa, No tax consequences.
However, as per banks rules loan proceeds shall be used for which you have acquired only.
However, as per banks rules loan proceeds shall be used for which you have acquired only.
Yes, 1,00,000/- can be deposited. However it is white money so if you can move through accounts that will be more good. But even if you deposit cash there is not any problem.
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