Section 269 T

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68 Points Posted on 02 February 2021
What is the current limit of cash transaction as per section 269 T (loan repayment).?
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On 02 February 2021 at 22:08 Report
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Section 269T of the Income Tax Act governs cash transactions, specifically for loan repayments. Generally, cash repayments exceeding £20,000 are prohibited. Amounts below this threshold can be repaid in cash, but larger sums must be settled via account payee cheque or electronic transfer to comply with the law.

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Chartered Accountant
86505 Points Posted on 02 February 2021
As per Sec 269T, limit of loan repayment is Rs. 0 if amount of loan exceeds Rs.20000
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On 02 February 2021 at 23:16
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17269 Points Posted on 02 February 2021
There is a loan repayment limit of 20000/- or more only by account payee cheque or electronic mode under 269T. Amount of repayment falling below 20000/- may be in cash mode then it's okay.
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On 02 February 2021 at 23:31
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Student CA IPC / IPCC
34 Points Posted on 03 February 2021
A person can not repay loan or deposit in CASH if the amount is 20000 or more.
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On 03 February 2021 at 00:24

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