Whether loan taken through RTGS above Rs. 20000 is violation of Section 269SS of Income Tax Act 1961?
Ankur Gupta (Practicing Chartered Accountant) (33 Points)
19 March 2013Whether loan taken through RTGS above Rs. 20000 is violation of Section 269SS of Income Tax Act 1961?
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 20 March 2013
If loan is taken through cash then only it is violation. If it is through RTGS it is not a violation, as is it one of the payment mode through banking channels.
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