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Reporting on Form 3CD
When we required to report on Clause no. 31(a) of form 3CD if amount of loan or advances received in cash >=20000 or amount of loan or advance received >=20000
Replies (3)
Quick Summary
Clause 31(a) deals with acceptance of loan or deposit in an amount exceeding the limit specified in section 269SS (i.e. Rs. 20,000).
When required to report excess of Rs. 20000
a)Received In cash or
b)Otherthan cash or
c) in cash and other than cash
a)Received In cash or
b)Otherthan cash or
c) in cash and other than cash
Violation of Sec 40(A)3 is also there. Any amount paid in excess of Rs.10000 for business will be considered as disallowable expenditure.
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