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Sec.269ss and Sec.269


harshit (acc)     07 April 2020

harshit
acc 
 28 points

| My Other Post

I HAVE QUERY ABOUT SEC.269 THAT - I Mr.A takes loan from Mr.B of 19000 in cash in F.y2018-19 , can Mr.A can take loan of 19000 in cash again in F.y.2019-20 ?? and is both above transaction happen then how much penalty can be charged and who is liable for payment of penalty??

 

avater

harshit (acc)     07 April 2020

harshit
acc 
 28 points

View Profile | My Other Post

meaning of word "aggregate" in Act means per person per year or per person in  different year ?

Mandakulathur Ananthanarayanan   07 April 2020

Mandakulathur Ananthanarayanan

 10 likes  176 points

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Section 269ss works on assessment year basis. Therefore, the above transaction would not be subject to sec 269ss since it happens in 2 different Asst years.

avater

RAJA P M ("Do the Right Thing...!!!")     07 April 2020

RAJA P M
"Do the Right Thing...!!!" 
 8292 likes  113456 points

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@ Mr Harshit.,

As per Your query.,
The section not applicable for the transaction. Bcoz, both transactions in different FY.


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