Sec 269 T

any payment made in excess of RS.20000 to any person in cash are disallowed u/s 269T of the said act

Any loan/deposit or the aggregate amt of loan/deposit is in excess of 20000 otherwise than by account payee/draft then the amt is disallowed

Hi,

Sec 40A(3) deals with disallownce of payment exceeding Rs 20,000 in cash towards any expenditure by an assessee  whereas, Sec 269T deals with the disallowance of repayment made by assessee towards loans and deposites accepted by him in cash exceeding Rs 20,000.

sir,

please clarify whether cash paid over the counter in respect of a bearer cheque fvg a third party in excess of Rs.20000/- attracts the provisions of this section

sreedhar