Sec 44ada provision it returns filed person un secured cash loans from different persons f.y.22-23 for the purpose of fixed assets amounts receipt through on cash mode
un secured loans from different persons rs:19,00/- * 30 members through on cash mode
un secured loans from different persons rs:18,000/- * 40 members through on cash mode
question:
un secured loans large amount received sec 68 provision applicable in it act.
Sec 44ada person loans fixed purpose sec 68 applicable
Replies (1)
If You can prove the identity of the lenders, genuineness of the transaction and credit worthiness of the lenders ; then Sec 68 addition on account of cash credits can be defended.
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