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.
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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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