respected members
I have cash paid to one friend rs.450000 so this entry is unsecured loan or loans and advances.
thank u in advance
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Regarding loan cash
Replies (6)
Quick Summary
It's Loans and Advances paid . However mode of payment that is cash will invite penalty 100% of such amount.
Penalty will attract in the hands of recipient only
Sir his not repay this loan so I have case on this party.
Very much right. Also the lender has to prove the bonafides source of cash 4.50 lakhs. So trouble will be on both sides.
This is loan and advance for u and unsecured loan for your friend. penalty of 100% amount will levied.
You cannot pay any sum in cash if amount of loan exceeding Rs. 20000 .It will attracts 100% Penalty u/s 271E on violation of Sec 269T
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