Mr. Naveen is an employee working in a public sector company. He repaid a loan in cash of ` 24,000 (including interest of ` 5,000), which he took from his friend for higher studies. What will be the consequence of the said transaction for A.Y. 2021-22?
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Repaid a loan in cash of
Replies (3)
Quick Summary
But cash can be paid 10000 rupees in a single transaction. It might be disallowed
If will be treated as unpaid as per the provision of act of session 269SS and 269T
Penalty under section 269T shall attract
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